It may be recalled that previous State Finance Minister had made an announcement early this year regarding setting up of J&K Renewable Energy Corporation for speeding up the development of renewable energy resources. Renewable Energy, needless to add, is a wealth of alternative Energy sources , like wind, solar to hydroelectricity without using fossil fuels like conventional coal or gas or anything formed because of natural processes. It is eco friendly and very cheap also in the long run and suitable to the conditions and the requirements of the State.
It is, therefore, well comprehensible that setting up of the Renewable Energy Corporation was not without a valid rationale as Jammu and Kashmir Energy Development Agency (JAKEDA), the State Nodal Agency mandated with development of small hydel, solar, wind and other renewable projects, is not constituted on commercial lines and resultantly cannot raise debts without which development of various projects is not possible.
To meet the required ends, a proposal in respect of Renewable Energy Corporation was prepared and placed before the State Cabinet and the proposal was accorded due sanction with certain technical guidelines like it being a private Limited Company wholly owned by the State Government with authorized share capital of Rs. 1 crore.
Till date, however, the post of Administrative Secretary of Science and Technology Department is not filled up which is creating all hurdles in early establishment of the Renewable Energy Corporation. The solar fund announced earlier by the Government too has not been created so far. We would like the Government to accord priority towards the issue of renewable energy looking to the ever increasing demand for power in the State which is provided from the conventional sources. Renewable energy power would offset load on conventional power to a larger extent.
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