The Government of India has successfully launched PM-KUSUM yojna for respected farmers. The PM-KUSUM scheme is very much in line with increasing the income of our respected farmers along with making it double. In the first phase, farmers have successfully applied for Solar farm development in all the states in India. At present, they have received LoA(Letter of Award) from the respective DISCOMs i.e. a thumbs up for initializing the Solar plant installation. Soon, the DISCOMs will sign the PPA(Power Purchase agreement) with the farmers at the pre-decided per unit costs. Now, when all the things look easier at the first place. What is going on with our farmers? They are facing an issue called- Finance!

As most of us know that under PM-KUSUM yojna, the responsibility of the Solar plant developer will be the installation of the solar plant as well as laying the connecting 11kV cables up to the nearby substation. Most of the farmers are still unaware of how to process the same. Also, the major issue is the upfront amount they need to spend to get their Solar plant installed and connected. The minimum capacity of the Solar plant is 500KW which will take around 1,70,00,000/- for product cost along with installation and an additional 30-40 lacs to set up small sub-station/powerhouse. Where can they bring this money from? How to get finance for PM-KUSUM scheme? are few of their prevailing worries.

This article is to help them all. The Government of India has already allowed 100% FDI(Foreign Direct Investment) in the renewable energy sector including Solar. (Source: https://www.investindia.gov.in/sector/renewable-energy) We need to help our respected farmers to get the finance at an easy interest i.e. lower than the available interest rates through our banks. This is also a call for foreign investors to come and stretch their helping hands for our respected farmers in getting the required finance for setting up of 500KW or above sized Solar power plants under PM-KUSUM scheme. This is the first phase only. The Government of India will soon be bringing phase-II of PM-KUSUM scheme. However, we need to make the phase-I a success first. We need an immediate collaboration of technology, financers, skilled workforce, and farmers to execute the projects successfully and make a mark for the world to follow!

Contact us to know more about PM-KUSUM yojna and such collaborations. We are working on the same currently! Team Loyal!