Punjab government has decided to introduce Punjab Energy Development Authority (PEDA) approved land lease policy for farmers for setting up of renewable energy projects in its endeavor to provide clean and green energy solutions.
Under the scheme, PEDA would safeguard the interests of farmers and ensure they get more lease value for their land as compared to market rates with yearly increment of 6 percent. The project envisages creating farmer entrepreneurs as well as supplementing income sources of the farming community.
PEDA will facilitate setting up of projects related to renewable sources of energy on farmer-owned land wherein private investors will take the land on lease from farmers for a period of 25 years.
Punjab new and renewable energy minister Bikram Singh Majithia said on Wednesday that in another scheme on the anvil, PEDA would also allow farmers to set up solar plants of a minimum capacity of 1 Mega Watt (MW) and maximum of 2.5 MW. He said farmers had already evinced keen interest in this scheme and applications had been received to set up projects in 2,000 acres of land.
The state has set a target of increasing the percentage of renewable energy in the total energy generated in the state to 15 per cent. Punjab plans to develop 5400 MW total non-conventional power capacity by the year 2022 with the generation of 300 MW from biomass, 680 MW from co-generation power, 4200 MW from solar, 200 MW from hydel and 20 MW by converting waste to energy.