Investment Facility provides support to infrastructure investments in the region in cooperation with the European Finance Institutions. For example, regarding financial tools and risk management mechanisms, the UFM Secretariat worked in close collaboration with the European Investment Bank in order to fully trigger the Mediterranean Solar Plan-Project Preparation Initiative by the end of 2014. MSP- PPI aims to provide technical assistance to support project preparation and development in the areas of renewable energy, energy efficiency and renewable energy transmission capacities for connections to the grid in the region. The programme, addressed to the Mediterranean Partner Countries eligible under the European Neighbourhood Investment Facility, is financed by the European Commission, and the UfM Secretariat will be actively involved in the work of its Steering Committee.34 India India has a very promising solar resource, with annual global radiation of between 1,600 kWh/m2 and 2,200 kWh/m2, which is typical of tropical and sub-tropical regions. The Indian government estimates that just 1% of the country’s landmass could meet its energy requirements until 2030. On the solar market development front, the National Action Plan on Climate Change puts forwards some specific policy measures, including research and development to lower the cost of solar energy production and maintenance, establishing a solar energy research centre, and a target of least 1,000 MW of STE by 2017. The Jawaharlal Nehru National Solar Mission is a major initiative of the Indian government as well as state governments to promote sustainable growth and address India’s energy security challenges. The JNNSM seeks to establish India as a global leader in solar energy, by creating the policy conditions for the quick diffusion of solar technologies across the country. The Mission has set a target of 20 GW to be executed in three phases (first phase from 2012 to 2013, second phase from 2013 to 2017 and third phase from 2017 to 2022). The Mission also designates the National Thermal Power Corporation’s Vidyut Vyapar Nigam Ltd as the Nodal Agency for procuring solar power by entering into a PPA with solar power generation projects. CERC has set a tariff cap of INR 15.31 for solar thermal power projects. Under phase one of the NSM, 470 MW of STE was allocated. In April 2014, the Ministry of New and Renewable Energy and the state-run Solar Energy Corp. of India confirmed that the STE target for 2015 would be reduced from 1,080 MW to 100 MW. This came after only one project out of seven successfully met the March 2014 deadline under Phase 1 of the JNSM. India currently has an installed STE capacity of 235 MW. This includes the 50 MW Godawari plant, the 50 MW Megha plant and the 125 MW Reliance Areva project. The Reliance Areva project is the world’s largest operational LFR plant. UAE The UAE is another region with great solar potential. The amount of solar radiation SOLAR POWER 36 energetica INDIA · MAY | JUN16
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