Shillong: Meghalaya Chief Minister Conrad K Sangma launched the Chief Minister’s Solar Mission at the State Convention Centre here on August 11 in the presence of Power Minister Abu Taher Mondal and Chairman of MNREDA Rupert Momin.
The CM Solar Mission will be a flagship Renewable Energy intervention that is a people-centric scheme with the poorest of the poor as the target beneficiary. At the same time, diverse options are available for every stratum of society.
With a commitment to fostering green and clean energy transformation, substantial subsidies along with backend bank financing will be available such that beneficiaries will have to foot a miniscule financial burden at the time of availing the benefit.
“Also, the loan component will be soft loans with EMI comparable or lesser than a small household’s monthly electricity bill. The subsidy will range from 70% for individual households to 50% for schools, hospitals, hotels and other commercial entities,” said Sangma.
He said that the mission represents a paradigm shift by blending cutting-edge technology with innovative financing models.
“We want to popularise renewable energy to address current challenges. We have to tap into what is available so abundantly and for free, the sunlight. In order to achieve this, we have worked out a financial model in which a beneficiary has to pay only 10% of the cost of the equipment at the time of availing of the scheme,” he added.
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