
Chandigarh ramps up rooftop solar push under PM Surya Ghar Yojana
Aiming to promote the use of solar energy in private homes,
Chandigarh Renewable Energy and Science and Technology Promotion Society
(Crest) has initiated a big move under PM Surya Ghar: Muft Bijli Yojna. Crest plans to involve several departments of the Chandigarh administration to help spread awareness and encourage people to join this central government scheme.
In a detailed letter, Crest has asked the municipal commissioner, deputy commissioner, and secretary engineering of the UT administration to actively support the scheme. Their role will be to engage with residents and motivate them to install
rooftop solar panels
. The goal is to help one crore households across the country generate their own electricity using solar power by the end of the 2026-2027 financial year.
In its communication to the officials, Crest explained that the ministry of new and renewable energy (MNRE) will soon brief field officers and promote experience-sharing on the scheme. Therefore, it is important to help people understand the scheme, its guidelines, and its goals.
The letter reads that a video conference will soon be held by the ministry to brief field officers and encourage experience-sharing. Officers are expected to actively participate and come well-prepared with a good understanding of the scheme's guidelines and objectives.
According to the Chandigarh administration, CREST has already implemented the scheme on govt properties. By installing solar panels on the rooftops of govt buildings, it is generating around 20 megawatts (MW) of solar power under this scheme alone. The challenge now is to expand to private buildings, which requires the consent of individual households. Chandigarh is generating about 90 MW of solar power.
Resco vs PM scheme
Under the Resco model for private properties, which is still awaiting approval from the central government, consumers will not have to pay anything upfront. A selected company will install solar panels on rooftops at no cost to the property owner. In return, the consumer will be charged ₹3.95 per unit (kWh) of electricity generated. This rate will remain fixed for a BOT (build, operate, transfer) period of less than 20 years.
Out of this amount, ₹0.07 per unit will be retained by the electricity department as facilitation charges, while the remaining ₹3.88 per unit will be paid to the Resco company on a monthly or bi-monthly basis.
In contrast, under the PM Surya Ghar:
Muft Bijli Yojana
, the consumer is required to make an initial capital investment to install the solar panels. However, the government provides a subsidy to support this investment. For installations up to 2 kilowatts, a subsidy of ₹30,000 per kilowatt is offered, totalling Rs 60,000. For the third kilowatt, an additional ₹18,000 is provided. This means that for a 3-KW system, the subsidy is ₹78,000. No more subsidy is given for systems above 3 KW, as the maximum subsidy cap is fixed at ₹78,000.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


News18
35 minutes ago
- News18
Ace Alpha Tech IPO GMP Today: Issue Subscribed 34.65x, Closes Today
Last Updated: The GMP of the Ace Alpha Tech IPO is 36.23% today. It shows strong listing gains for investors. Ace Alpha Tech IPO GMP Today: The initial public offering of Ace Alpha Tech Ltd is going to be closed at 5 pm today, Monday, June 30. The IPO has received a strong response so far amid an upbeat GMP. Till 1:44 pm on the final day of bidding on Monday, the Rs 32.22-crore BSE SME issue received a 34.65 times subscription, garnering bids for 10,69,44,000 shares as against the 30,86,000 shares on offer. The retail and NII participation stood at 33.21 times and 55.30 times, respectively. Its qualified institutional buyer (QIB) category got a 21.67 times subscription. Ace Alpha Tech, founded in 2012, provides legal and business consultancy services along with trading and risk management platforms. It offers products like institutional trading tools, B2B retail platforms, and proprietary trading systems, catering to both institutional and retail clients with a focus on security, compliance, and operational efficiency. Ace Alpha Tech IPO GMP Today According to market observers, the GMP of the Ace Alpha Tech IPO is 36.23% today. It shows strong listing gains for investors. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Ace Alpha Tech IPO Allotment And Listing Dates The basis of allotment of the IPO will be finalised on Tuesday, July 1, 2025. Once finalised, the IPO allotment status can be check on websites of the BSE or registrar Skyline Financial Services Pvt Ltd. The listing will take place on the BSE's SME platform on Thursday, July 3. Ace Alpha Tech Limited's Rs 32.22-crore IPO, which opened for bidding on June 26, comprises a fresh issue of 35.48 lakh equity shares aggregating to Rs 24.48 crore and an offer for sale (OFS) of 11.22 lakh shares worth Rs 7.74 crore. The company's shares are proposed to be listed on the BSE SME platform, with the allotment expected on July 1 and the tentative listing date set for July 3, 2025. The IPO is being offered in a price band of Rs 65 to Rs 69 per share. Retail investors are required to apply for a minimum of 2,000 shares, which brings the base investment amount to Rs 1,30,000. However, considering the likelihood of oversubscription, investors are advised to bid at the cutoff price, which takes the minimum investment to approximately Rs 1,38,000. For High Net-Worth Individuals (HNIs), the minimum application size is two lots (4,000 shares), amounting to Rs 2,76,000. Narnolia Financial Services Ltd is the book-running lead manager for the issue, Skyline Financial Services Private Ltd is the registrar, and SS Corporate Securities Limited is acting as the market maker. In terms of financial performance, Ace Alpha Tech has shown significant growth over the years. For the nine-month period ending December 31, 2024, the company reported revenue of Rs 12.71 crore and profit after tax of Rs 8.47 crore. For the full FY24, it posted revenue of Rs 15.35 crore and a net profit of Rs 10.65 crore, up from Rs 4.94 crore and Rs 3.32 crore, respectively, in FY23. In FY22, the company had negligible operations with revenue at Rs 0.36 crore and profit of Rs 0.13 crore. The company's assets stood at Rs 31.04 crore as of December 2024, up from Rs 23.02 crore at the end of FY24 and just Rs 5.22 crore in FY23. EBITDA also improved significantly to Rs 14.27 crore in FY24, compared to Rs 4.45 crore in FY23 and just Rs 0.18 crore in FY22. The net worth rose sharply from Rs 0.45 crore in FY22 to Rs 22.10 crore by FY24.


The Hindu
36 minutes ago
- The Hindu
Inaugural edition of World Super Kabaddi League to be held in Dubai
The organisers of the World Super Kabaddi League (WSKL) on Monday (June 30, 2025) announced that the inaugural edition of the tournament, featuring about 30 countries, will be held in Dubai, tentatively in February-March next year. Backed by the International Kabaddi Federation (IKF), WSKL will adopt a franchise-based model featuring eight teams in its inaugural season. Each team will have a strong international presence alongside Indian talent. "Kabaddi has always deserved a larger stage not just for India but for the global sporting community. With WSKL, our goal is to reimagine the sport for a global audience, unlock international talent, and take decisive steps towards Olympic recognition," said Sambhav Jain, Director and Founder, SJ uplift Kabaddi Pvt Ltd that operates the League. The league has committed a total player purse of Rs 48 crore across its eight franchises, underscoring the strong investment appetite for this new sports property. WSKL has already secured interest and participation from prominent kabaddi nations including South Korea, Iran, Thailand, Pakistan, Malaysia, Japan, Canada, and the United States, with discussions underway to onboard additional countries, the release added.

Economic Times
37 minutes ago
- Economic Times
Indogulf Cropsciences IPO subscribed 7 times on final day; GMP signals 13% listing pop
The initial public offering (IPO) of agro-chemical firm Indogulf Cropsciences drew robust investor interest, with the issue subscribed 7 times as of 1:09 PM on Monday, the final day of bidding. The strong response was led by non-institutional investors (NIIs), while the grey market premium (GMP) climbed to Rs 14, indicating a potential upside of 12.6% over the upper end of the price band. ADVERTISEMENT The IPO received bids for 9,10,38,600 shares against 1,33,65,710 shares on offer, indicating a subscription of 7 times overall. Non-institutional investors emerged as the most enthusiastic category, subscribing to 15.88 times their allotted quota. Retail investors also showed considerable interest, with their portion subscribed 7.16 times. However, demand from qualified institutional buyers (QIBs) lagged behind, with just 36% of their quota taken up by early Monday afternoon. On Day 3, Indogulf Cropsciences' last grey market premium (GMP) stood at Rs 14, as of Monday, June 30. Based on the IPO's upper price band of Rs 111, the estimated listing price was pegged at Rs 125, implying a 12.6% gain per share. The GMP had previously moderated over the last two days. On Friday, shares were quoting at a premium of Rs 8–9, reflecting a 7% premium. On Thursday, the GMP was slightly stronger at Rs 10–11, indicating a 9% listing gain. Offer details and timelines Priced between Rs 105 and Rs 111 per share, the IPO opened for subscription on June 26 and closes today, June 30. The allotment is expected to be finalized on July 1, with listing likely on July 3 on both the BSE and NSE. The minimum lot size is 135 shares, amounting to Rs 14,985 at the upper end of the band. Systematix Corporate Services is the book-running lead manager, and Bigshare Services is acting as the registrar to the issue. ADVERTISEMENT Company fundamentals Established in 1993, Indogulf Cropsciences is a well-known name in the agro-chemical space, offering a diversified portfolio of crop protection products, plant nutrients, and biologicals. The company operates across 22 Indian states and 3 Union Territories, and exports to 34 countries. ADVERTISEMENT It runs four manufacturing units—three in Haryana and one in Jammu & Kashmir—and employs 640 permanent staff. For FY24, the company reported a revenue of Rs 555.79 crore and a net profit of Rs 28.23 crore. It has maintained an EBITDA margin of over 10% and delivered a return on equity (ROE) of 12.2%. IPO proceeds will be utilised for working capital needs, debt repayment, and the establishment of a new dry flowable formulation plant in Haryana. ADVERTISEMENT With a seasoned management team, strong R&D capabilities, and a footprint in India's expanding agri-input market, the company is seen as a promising long-term bet in the chemical and agri-tech space. Also read | IPO pipeline to deepen as 15 PSU banks asked to unlock value via subsidiary listings (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)