India’s Ministry of New and Renewable Energy (MNRE) has Thursday said that a Viability Gap Funding (VGF) model has been “envisaged” for the second phase of the country’s Jawaharlal Nehru National Solar Mission (JNNSM). National budget deficit concerns are, however, throwing the viability of the program into question.
Unlike the first phase of the JNNSM, which relied on a reverse auction model to select solar projects, the second phase of the solar mission is likely to adopt a VGF model, which would see one time or short term capital assistance supplied. That is, if there is funding available.
According to the latest information, the second leg of the JNNSM is scheduled to start this June.
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