He was speaking at signing of a MoU between EESL''s new arm Convergence Energy Services Ltd (Convergence) and Goa government for solar energy projects to power agricultural pumps.
"Second green revolution can be achieved through green energy as this will facilitate solarisation of water pumps. Besides providing cheaper and green energy, this also provides alternative source of income to farmers," Singh said.
He said, "Goa can become a green state with PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evem Utthan Mahabhiyan) and solar rooftop scheme."
The energy sector, and the electricity sector in particular, is transitioning in an unprecedented way.
With this programme, Goa can avail three major benefits through reduced burden of subsidy, increased efficiency of products reducing power consumption and reduced burden on the environment, he added.
Under the Memorandum of Understanding (MoU), Energy Efficiency Services Ltd (EESL) and Department of New and Renewable Energy will carry out feasibility studies and subsequent implementation of decentralized solar energy projects.
Convergence will install 100 MW of decentralized ground mounted solar power projects on government land to be used for agricultural pumping, replace approximately 6,300 BEE (Bureau of Energy Efficiency) star rated agricultural pumps and distribute approximately 16 lakh LED bulbs for rural domestic households.
The MoU was signed in the presence of Goa Power Minister Nilesh Cabral, Union Power Secretary Sanjiv Nandan Sahai and other senior officials.
Speaking on the occasion, Cabral said, "Goa is the first state to adopt the concept of amortizing the cost of pumps and LEDs into a PPA (power purchase agreement). This approach saves us Rs 2,574 crore over a period of 25 years, while improving the health of DISCOMs and providing cleaner power at the same time."
"This project will provide clean day time electricity to farmers and energy efficient pump sets that would reduce the power consumption as well as T&D losses associated with transmitting power to agriculture and rural feeder networks," he added.
Convergence will install solar projects in a first of its kind large scale programme where vacant/unused land provided by gram panchayats/electricity board will be utilised.
Plants of 500 KW to 2 MW will be installed near the substations and enable DISCOMs to supply power during the day time and reduce transmission losses.
Power Secretary Sahai said, "We believe that now that solar power has become affordable, implementing projects such as these can become a powerful means to eventually solarise our villages.
"Decentralized models of power development are becoming more and more important, and approaches such as the one being taken hold great promise to allow India to achieve her development goals."
Convergence builds upon the decentralised solar development experience in under-served rural communities in India, and over time, using battery energy storage, will deliver renewable energy solutions to power agricultural pumps, street lighting, domestic lighting and cooking appliances in villages.
It will also work to enable battery powered electric mobility and its infrastructure, and design business models to increase the uptake of electric vehicles in India.
To enable commercialisation of these solutions at scale, Convergence will employ business models that utilise a blend of concessionary and commercial capital, carbon finance and grants as appropriate.
EESL is a joint venture of NTPC Ltd, Power Finance Corporation, REC and Power Grid Corporation. PTI KKS RVK