The Progressive Punjab Investor Summit 2015 today culmination of yearlong efforts by Bikram Singh Majithia, Renewable Energy Minister Punjab that brought largest ever bio-refinery in the wheat bowl of the country that would solve the end of chronic problem of wheat and paddy straw burning besides enriching farmers who would be paid for agro-based. Punjab today in the summit inked a Memorandum of Understanding (MoU) for setting up of bio-ethanol refinery with a consortium of Beta Renewables, Novozymes and CVC India Infrastructure Pvt. Ltd., for an estimated project worth Rs 950 crore. This would go a long way in tackling the major problem of paddy straw burning, resulting in irreparable loss to land's fertility and environment.The Summit also witnessed inking of 12 MoUs worth Rs.21,305crore including300 MW solar plant and 150 MW solar plant with Neuron Power Solutions Pvt. Ltd., Biomass Power Plant by Sukhbir Agro Energy Ltd., 100 MW waste to Energy Projects by AG Dauters Consulting Pvt. Ltd., 100 MW power generation unit by Navrattan Group, Co-Generation Power Plant by Indian Sucrose Ltd. and 50 MW solar power plant by Imperial Solution Pvt. Ltd.
The promoters of Mr. K Krishnan Chairman CVC India Infrastructure Pvt. Ltd. profusely thanked Bikram Singh Majithia, who presented them a conceptual plan to set up Asia's first ever Rs 950-crore second generation bio-ethanol, producing refinery leading to setting up of five more such refineries with $1-billion investment and pursued them to venture into greenfield area that’s a its culmination today into a MoU.The delegates were informed that Punjab was all set for major ‘revolution’ in ‘Renewable Energy’ sector owing to several key initiatives including investor friendly New & Renewable Energy Policy, unique Net Metering Roof Top policy, Farmers solar power scheme and Village Panchayat Land lease Policy taken by the State government. It was also said that with these initiatives Punjab has become ‘Sun State of India’.
It was informed that Punjab envisions having Renewable Energy capacity of 5,400 MW by 2022, of which 4,200 MW shall be solar energy. Solar power capacity in Punjab has grown from 9MW in 2012 to 218 MW in 2015. The state government further aimsat achieving a solar power generation of 500 MW by March 2016.Inviting Private investors, it was said that private sector Investment of over Rs.4000 crore has flown in clean energy space in Punjab in the last three years. Moreover, Non-Resident Indians (NRIs), foreign companies and leading Indian companies have shown confidence in the progressive policies of Punjab by expressing their interest to invest in the sector.
Session was an interesting brainstorming exercise on the issues of Renewable: trategies to make it Affordable, Reliable and Sustainable, Sharing global trends and success stories, Enablers to unlock Punjab’s Solar potential, Key challenges in scaling up of RE production, Encouraging usage of RE, Role of State Government in increasing private sector participation in Solar Power generationProminent amongst others who spoke on the occasion included Mr. Markus Wypior, Deputy Director Indo-German Energy Program, Green Energy Corridors, Mr. Stewart Davis, Energy Officer, US Embassy New Delhi, Mr.RajatSeksaria, Business Head, Punj Lloyd Infrastructure Ltd, Mr. Pawan K Aggarwal, President Corporate Finance, Yes Bank and Mr. KS Popli, Chairman Indian Renewable Energy Development Authority.