MNRE:Setting up of Rs 1500 Cr Payment Security Fund for VGF Scheme under JNNSM

In implementation of JNNSM Phase II, the Government of India introduced the concept of viability gap funding mechanism wherein solar projects are developed by developers selected through transparent competitive process on BOO basis to supply solar power at a pre-determined tariff with support from Government in terms of VGF. The Government Guidelines prescribe ceiling on maximum VGF, which can be allowed under the specific scheme. Solar Energy Corporation of India limited (SECI) has been designated as the implementing agency for this VGF Schemes under JNNSM.

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