Union Ministry Extends Scheme for Solar Parks, Mega Projects until FY26

23 Jun 2023 CW Team

The scheme for 'Development of Solar Parks and Ultra Mega Solar Park Projects' has been extended by the union ministry of new and renewable energy until FY26. According to a notification from the ministry, this extension will not result in any additional financial implications. The original schedule had set the scheme to end in March 2024.

Introduced in December 2014, the scheme aims to assist states and union territories in establishing solar parks across the country, providing the necessary infrastructure for solar power projects. A solar park is a large area of land developed with shared infrastructure facilities such as transmission infrastructure, roads, water, drainage, and communication networks, along with all the required statutory clearances.

Under this scheme, the ministry offers central financial assistance (CFA) of up to Rs 25 lakh per solar park for the preparation of a detailed project report (DPR). Additionally, CFA of up to Rs 20 lakh per MW or 30 per cent of the project cost, including grid-connectivity expenses, whichever is lower, is provided upon achieving the milestones outlined in the scheme.

The decision to extend the scheme comes in light of the slow progress observed in the development of solar parks. In a response to a question in the Lok Sabha in March, RK Singh, the union minister for new and renewable energy (MNRE), revealed that out of the 57 solar parks with a total capacity of 39.28 GW, only nine were fully completed, and another eight were partially completed as of February 2023.

Singh attributed the delay in establishing solar parks to various factors, including challenges related to acquiring suitable land, discrepancies in timelines between solar projects and power evacuation infrastructure, environmental concerns such as the Great Indian Bustard (GIB) issue, and regulatory obstacles like the non-approval of solar tariffs by State Electricity Regulatory Commissions (SERCs).

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

Domicil Debuts In Tricity With Luxe 9 Showcase

Domicil Germany, a luxury home furnishing brand from the House of HTL International, has made its Tricity debut with an exclusive showcase at Luxe 9, marking its first retail presence in the region.The invite-only event brought together architects, interior designers, real estate developers and high-net-worth individuals, reflecting rising demand for globally inspired, design-led living spaces.Centred on the theme ‘Celebrate Living with Timeless German Design’, the showcase highlighted Domicil’s focus on combining craftsmanship, functionality and refined aesthetics. Attendees experienced..