‘RESCO Model of CREST has been well appreciated by Government of India,’ says Mr Dalai, CEO, CREST at CII Chandigarh Power Dialogue.
Chandigarh-14/1/20,As CII is completing 125 years, various sectoral initiatives are being organized as part of service to the industry and nation at large. One of which is CII Chandigarh Power & Renewable Energy Dialogue 2020 that was organized at CII Northern Region Headquarters today. The Dialogue aimed to bring together Industry and other subject matter experts to discuss upon the challenges and opportunities in the sector.
“Renewable Energy Supply Company (RESCO) Model of CREST has been well appreciated by Government of India. In the RESCO model, the consumers will not have to pay anything for installation and electricity will be sold to them at fixed price for 15 years. Government of India is now promoting this model as one of the best practices for other states to adopt on the subsidiary release front,” says Mr Debendra Dalai, CEO, CREST, Chandigarh Administration while addressing the participants.
Mr Vikram Hans, Past Chairman, CII Chandigarh & MD, Multi Overseas (I) Pvt. Ltd opined that early disbursal of subsidy to consumers, consistency in policy and procedures and increasing awareness of citizens through campaigns, workshops etc. He also emphasized that the end user, may it be commercial & domestic, should show more interest to ensure the success of the subsidy schemes offered by the Chandigarh UT Administration.
Mr Sarvjeet Singh Virk, Chairman, Chandigarh Council & MD Finvasia India Pvt Ltd also addressed the gathering and shared his views about the gradual transition from traditional to renewable energy sources and that Chandigarh is a prominent player, predominantly moving towards the adoption of various energy sources, improving the quality of life while ensuring sustainability.
India’s power sector is one of the most diversified in the world. Electricity demand in the country has increased rapidly and is expected to rise further in the years to come. In order to meet the increasing demand for electricity in the country, massive addition to the installed generating capacity is required, including Renewable Energy. In May 2019, India ranked 4th in the Asia Pacific region out of 25 nations on an index that measures their overall power.
It was also highlighted during the deliberations that Chandigarh has adopted solar power in a huge way. As per the latest data available, 30 MW of solar has been installed in the city. Since being declared as a model solar city in 2013, Chandigarh has been inviting of private players in the solar power sector. Further push for solar adoption has been propelled by the Chandigarh Administration by making it mandatory for the residential houses above 500 sq. yards to install rooftop solar power plants. However, to achieve a target of installing 69 MW solar power by 2022, the administration along with other stakeholders will have to work together proactively in future.