The National Solar Mission is gathering momentum as more number of projects move towards financial closure and achieve land acquisition, the review meeting of projects noted.

The appraised projects include smaller projects of 1 MW and 2 MW, 5 MW solar photovoltaic projects and large scale solar thermal projects. While 80% of the project developers under the rooftop and small solar generation programme have finalised the technology, majority of them have confirmed land acquisitions. According to the reports, 24 project developers confirmed financial closure.

"For the 5 MW photovoltaic projects, nine developers have confirmed financial closures whereas 80% have successfully completed land acquisition," said a senior official from the Ministry of New and Renewable Energy . The major institutions coming forward to lend for the projects include IDBI, Exim Bank , IREDA , SBI , Rural Electrification Corporation , Indian Overseas Bank and Power Finance Corporation .

"Environmental clearance for projects bigger than 50 crore and power evacuation arrangements are the two key issues which need to be addressed by the state," said Anil Lakhina, CMD, Forum for Advancement of Solar Thermal. Lakhania said a request has been made to waive off one-year needed for Environmental Impact Assessment .

From the reports emanating from the meeting, most of the solar power producers were optimistic of achieving the financial closure by the stipulated date lines in July 2011.

The government of India had allotted 66 MW capacity under the migration scheme in September 2010 and another 620 MW through competitive bidding route in January 2011 making an overall allocation of 686 MW so far.