2600 investors in solar subsidy project Rs. 260 crore trapped

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Those who accept the government's exit option have not received advance money for seven months. Disappointment in the budget. Now the strategy of investors to fight legally.

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Rajkot: Relying on the government, the state government abruptly canceled the solar subsidy project after about 4,000 investors from Saurashtra-Gujarat invested in the solar subsidy project. About 2600 investors agreed to the exit option given to them by the government in this case but about Rs. Small investors are angry that the government has not repaid Rs 260 crore every seven months.

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Under the banner of Gujarat Federation of Solar Industries, about 4000 small investors are fighting for solar subsidy projects. The government has canceled the project after investing about Rs 10,000 crore, putting small investors under financial burden. This project has the highest number of projects in Saurashtra. The government has given an exit option to investors who want to opt out of the scheme, with about 2,600 agreeing. Federation leaders said the investors had paid a connection charge of Rs. 1 lakh was considered non-refundable but the government has stipulated that the amount would be returned to them if the order is from the Jerk Authority but there was no such condition when such amount was taken from the investors. Over the last seven months, Rs. An amount like Rs 260 crore is trapped in the government. No one who accepted the exit option got this amount back.

Investors had hoped that the Gujarat government's budget would announce a solar subsidy project, but that hope has been dashed. On the one hand, the government is talking about promoting solar energy, on the other hand, the situation of small entrepreneurs who want to invest in solar projects has become dire. Though the agitation was carried out in Gandhi Chindya Marg under the auspices of the Federation, the government does not give up. Investors are outraged at the loss of another segment.