Punjab New and Renewable Energy Minister Bikram Singh Majithia said it has received bids from as many as 18 companies for setting up solar projects in the state which will attract investment of Rs 3,500 crore.
“It is to the credit of Punjab that it had succeeded in its Go Solar mission despite constraints of land. We do not have any wastelands or deserts, yet Punjab is the most preferred state for investors as compared to other states which are five to seven times larger in area,” the minister said.
He added, “We have backed up our solar mission with a 25 year power purchase agreement with our electricity utility – the PSPCL. The fact that PSPCL has got a good credit rating of A+ has also boosted investor confidence.”