The new interest subvention scheme for Concentrating Solar Thermal (CST) technologies administrated by the Indian Renewable Energy Development Agency (IREDA) is now open for applications. The scheme has been developed in cooperation with the UN Industrial Development Organisation (UNIDO) during the GEF-UNIDO-MNRE project, which focuses on increasing the deployment of concentrating solar thermal systems for process heat applications in India. “Technology providers or beneficiaries can use a short-term bridge loan at normal interest rates for pre-financing the 30 % capital subsidy that the Ministry of New and Renewable Energy grants for CST technologies,” explained Dr Anil Misra, National Project Manager at UNIDO (see photo). IREDA also hands out long-term loans covering up to 45 % of the benchmark system cost at 5 % lower-than-usual interest rates. The remaining 25 % are required as equity by the beneficiary.
The United Nations Industrial Development Organization (UNIDO) started two projects in the first quarter of this year with the aim of increasing the deployment of solar process heat: January of 2015 marked the launch of a 5-year programme in cooperation with the Indian Ministry of New and Renewable Energy (MNRE) to promote business models for an increased market penetration and scale of concentrated solar thermal heating and cooling applications. Three months later, UNIDO launched the 5-year programme Utilizing Solar Energy for Industrial Process Heat in Egyptian Industry together with the Egyptian Ministry of Industry, Trade and Small and Medium Enterprises. Both projects are funded by the Global Environment Facility (GEF).
The Indian Ministry of New and Renewable Energy (MNRE) has just released the application procedure for claiming incentives under the recently launched national subsidy programme, which is part of the National Solar Mission.
The recently published Solar India Mission places its emphasis on large-scale application of solar thermal technology. The photo shows a typical solar thermal installation on a housing estate in India. Photo: Jaideep Malaviya