Ahmedabad, July 2021: Subsidy for purchase of electricity was given by the Industries Department under the Policy for Development of Small Scale Distributed Solar Project 2016. This subsidy was given under the Industries Policy of the Government of Gujarat.
The Industries Department has decided to stop giving this subsidy a few days back. In retaliation, Gujarat Energy Development Corporation Limited has also announced that it has stopped giving this subsidy. As a result, over 200 entrepreneurs who ventured to generate an estimated 500 MW of solar power by investing Rs 10,000 crore are afraid of losing their subsidy money. Disappointment has spread among them.
They also feel betrayed by the feeling that the government has suddenly turned around.Such timing will prove to be a new ray of hope for Solar Optimal Solutions (SOS) by Ivy Capital. This is a great opportunity to save your investment from loss of 22% profit due to cancellation of subsidy for investment cars. Apart from avoiding losses, more compensation can also be obtained through SOS.
Talking to Dhaval kumar Giani (Partner) of Ivy Capital on the above subject, he said that without subsidy, the most important solar project for Gujarat is likely to be abandoned by the investors.Due to non-availability of subsidy, there will be a loss of 22% in the profits of the solar project. The subsidy was a major benefit for investors in paying off the loan at the start of the project.
SOS not only allows investors to convert this 22% loss into 31% gain. But at the same time it frees the entire solar plant from the worries of operation and maintenance for 25 years without any equity investment.
He said that SOS is an innovative financial and technical agreement which aims to ensure that Gujarat does not lag behind in renewable energy and maximum and safe return on investment is achieved by all investors. Developed by Solar Technocrats and Solar Project Specialists, by Equity Investors Backed and launched by Ivy Capital.