#Cabinet Approves Viability Gap Fund
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India's ₹3,760Cr Viability Gap Fund for Battery Storage Systems to Meet 50% Energy Need
Indian Union Cabinet has granted approval for a ₹3,760 crore Viability Gap Fund (VGF) dedicated to battery energy storage systems (BESS) has given a significant move to bolster the renewable energy sector, and fuels its ambitions to meet 50% of the nations energy requirements.
This financial boost comes at a crucial juncture when the renewable energy industry relies on efficient energy storage…
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News updates: UGC NET 2024 cancelled; new exam dates to be announced soon | India News
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News updates: UGC NET 2024 cancelled; new exam dates to be announced soon | India News
National Testing Agency announces cancellation of UGC-NET following prima facie indications that integrity of exam compromised. “UGC-NET to be conducted afresh, matter of exam integrity being compromised being handed over to CBI,” said Education Ministry. The Union Cabinet on Wednesday approved a Rs 7,453 crore-Viability Gap Funding (VGF) scheme for offshore wind energy projects, including […]
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Cabinet approves Rs 7453 crore funding for offshore wind projects off Gujarat, Tamil Nadu coast | India News
NEW DELHI: The Union cabinet, chaired by Prime Minister Narendra Modi, approved the Viability Gap Funding (VGF) scheme for offshore wind energy projects, with a total outlay of Rs7453 crore.“The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, today approved the Viability Gap Funding (VGF) scheme for offshore wind energy projects at a total outlay of Rs.7453 crore, including an outlay…
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Union Cabinet has approved the Scheme for Viability Gap Funding (VGF) for the development of Battery Energy Storage Systems (BESS), aiming to boost the adoption of renewable energy sources.
Battery storage, or BESS, are devices that enable energy from renewables, like solar and wind, to be stored and then released when the power is needed most.
The primary objective is to facilitate the development of 4,000 megawatt hour (MWh) of BESS projects by 2030-31.
#general knowledge#india#current news#current events#affairsmastery#environmental issues#sustainability
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Viability gap funding of battery energy storage systems
Context: The Union Cabinet approved the scheme for viability gap funding (VGF) of ₹3,760 crore for the development of battery energy storage systems (BESS).
About Viability gap funding of battery energy storage systems
It aimed at enhancing the viability of infrastructure projects for battery energy storage systems (BESS), in a boost for the renewable energy sector that banks on storage when…
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The national auditor also singled out Ansuli Arya-headed USOF for not finalising any tool or format to effectively monitor the installation of access points till as late as December 2020, which has also led to a free-flow of funds to CSC in the absence of any independent monitoring.
USOF is a Rs 55,000-crore strong corpus meant to boost rural and remote telecom connectivity, and is funding the ambitious BharatNet initiative that aims to connect 2.5 lakh gram panchayats or village blocks encompassing more than 6 lakh villages across India.
Recently, the Cabinet had approved a viability gap funding (VGF) of up to Rs 19,041 crore for the implementation of the BharatNet program through Public-Private Partnership (PPP) model in 16 states. But, experts say that the substandard work carried out by CSC for last mile access may discourage successful implementation of the new model.
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Cabinet approves Rs 19,041 cr viability gap funding for BharatNet project
Cabinet approves Rs 19,041 cr viability gap funding for BharatNet project
The Cabinet on Wednesday approved public private partnership mode for the rollout of BharatNet project for broadband services in villages in 16 states with viability gap funding of Rs 19,041 crore, Telecom Minister Ravi Shankar Prasad said.
Prasad said the decision to involve private players was taken after Prime Minister Narendra Modi announced on August 15, 2020 that around 6 lakh villages in…
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BharatNet Project Gets Cabinet Approval for Rs. 19,401 Crore Viability Gap, to be Deployed in 16 States
BharatNet Project Gets Cabinet Approval for Rs. 19,401 Crore Viability Gap, to be Deployed in 16 States
The Cabinet on Wednesday approved the public-private partnership mode for the deployment of the BharatNet project for broadband services to villages in 16 states with sustainability gap funding of Rs 19,041 crore, the telecommunications minister said. Ravi Shankar Prasad.
Prasad said the decision to involve private actors was taken after Prime Minister Narendra Modi announced on August 15, 2020…
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BharatNet Broadband Project to Roll Out in 16 States
BharatNet Broadband Project to Roll Out in 16 States
The Cabinet on Wednesday approved public private partnership mode for the rollout of BharatNet project for broadband services in villages in 16 states with viability gap funding of Rs 19,041 crore, Telecom Minister Ravi Shankar Prasad said.
Prasad said the decision to involve private players was taken after Prime Minister Narendra Modi announced on August 15, 2020 that around 6 lakh villages in…
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#bharatnet broadband project 16 states rollout 1000 days 6 lakh villages cabinet approval rs 19401 crores bharatnet#broadband#narendra modi#Ravi Shankar Prasad
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Cabinet approves BharatNet optical fibre connection for these 16 states
Cabinet approves BharatNet optical fibre connection for these 16 states
An estimated 3.61 lakh villages including Gram Panchayats will be covered. The estimated maximum viability gap funding approved for the PPP model is Rs 19,041 crores.An estimated 3.61 lakh villages including Gram Panchayats will be covered. The estimated maximum viability gap funding approved for the PPP model is Rs 19,041 crores.Read More
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Cabinet approves viability gap funding of Rs 19,041 crore for rolling out BharatNet in 16 states
https://koliasa.com/cabinet-approves-viability-gap-funding-of-rs-19041-crore-for-rolling-out-bharatnet-in-16-states/
Cabinet approves viability gap funding of Rs 19,041 crore for rolling out BharatNet in 16 states - ...
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Cabinet Approves Rs 19,041 Crore Viability Gap Funding For BharatNet In 16 States
Cabinet Approves Rs 19,041 Crore Viability Gap Funding For BharatNet In 16 States
Till date, 1.56 lakh out of the 2.5 lakh village panchayats are connected with broadband.
The Cabinet on Wednesday approved public private partnership mode for the rollout of BharatNet project for broadband services in villages in 16 states with viability gap funding of Rs 19,041 crore, Telecom Minister Ravi Shankar Prasad said.
He said the total expense will be Rs 29,430 crore to cover around…
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The national auditor also singled out Ansuli Arya-headed USOF for not finalising any tool or format to effectively monitor the installation of access points till as late as December 2020, which has also led to a free-flow of funds to CSC in the absence of any independent monitoring.
USOF is a Rs 55,000-crore strong corpus meant to boost rural and remote telecom connectivity, and is funding the ambitious BharatNet initiative that aims to connect 2.5 lakh gram panchayats or village blocks encompassing more than 6 lakh villages across India.
Recently, the Cabinet had approved a viability gap funding (VGF) of up to Rs 19,041 crore for the implementation of the BharatNet program through Public-Private Partnership (PPP) model in 16 states. But, experts say that the substandard work carried out by CSC for last mile access may discourage successful implementation of the new model.
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Cabinet approves revamped VGF scheme with outlay of Rs 8,100 crore
Cabinet approves revamped VGF scheme with outlay of Rs 8,100 crore
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The government on Wednesday approved the revamped viability gap funding (VGF) scheme envisaging a total outlay of Rs 8,100 crore for encouraging investment in social as well as economic infrastructure projects.
The Cabinet Committee on Economic Affairs has approved continuation and revamping of the scheme for financial support to public-private partnerships (PPPs) in…
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Cabinet approves Rs 19,041 Crore Viability Gap funding for BharatNet in 16 states
Cabinet approves Rs 19,041 Crore Viability Gap funding for BharatNet in 16 states
To date, 1.56 lakh out of the 2.5 lakh panchayats in the village are connected to broadband.
The Cabinet on Wednesday approved the public-private partnership mode for the deployment of the BharatNet project for broadband services to villages in 16 states with sustainability gap funding of Rs 19,041 crore, the telecommunications minister said. Ravi Shankar Prasad.
He said the total expenditure…
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FEC not divided over Nigeria Air – Sirika
By Tony Ademiluyi
The Minister of State for Aviation, Hadi Sirika, on Friday said the Federal Executive Council was not divided over the mode of implementation of the national carrier project called Nigeria Air.
Sirika said he believed that the Minister of Transportation, Rotimi Amaechi, was misquoted in media reports that quoted him (Amaechi) as saying that FEC was divided on the mode of implementation of the project.
Amaechi had stated at his valedictory press briefing in Abuja on Thursday that members of the federal cabinet had different beliefs and positions as regards the establishment of a national carrier for Nigeria, but was quick to state that the project had not been abandoned.
Amaechi said, “On national carrier, (the) cabinet is divided on the issue of modality. There are those who believe that the Federal Government should invest and then we can sell the equity later.
“There are also those who believe that no, and from day one they say let us get investors in and give them the franchise of Nigeria Airways or Air Nigeria or whatever it’s called. That is where we are and that is what held it down. But as for whether it is still in our plan, it is and has not been abandoned.”
But a statement issued on Friday by the Deputy Director, Press and Public Affairs at the Aviation arm of Ministry of Transportation, James Odaudu, stated that Amaechi must have been misquoted.
The statement read in part, “It is the belief of the Minister of State for Aviation that the Minister of Transportation was misquoted by the media in this respect, as the Federal Executive Council is one cohesive body that cannot be divided over any issue.”
According to Sirika, the Nigeria Air project had the full support of the council which deliberated on it and approved it.
He stated that consequently, President Muhammadu Buhari directed that the Viability Gap Funding for the project be provided for in the 2019 Appropriation, adding that the National Assembly had graciously done that.
The aviation minister said he regretted the media mix-up and assured the general public, and, more importantly, the prospective partners and investors, that the Nigeria Air project was fully alive and on course.
In September 2018, The PUNCH reported that the suspension of the planned commencement of operations of Nigeria Air by the Federal Government.
Although no reason was given for the suspension at the time the project was suspended, it was gathered then that the national carrier initiative had been put on hold in the interim.
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