Hans News Service Hyderabad

UnionMinister of State for Home Affairs Bandi Sanjay Kumar called upon cooperative societies across Telangana to take advantage of the Central Government’s support and establish solar power plants to generate substantial revenue.

During his visit to Choppadandi in Karimnagar district, he said that a 1 MW solar plant can earn up to Rs 50 lakh per year, making it a highly profitable venture for cooperatives and individuals with adequate land.

The Minister inspected a Jan Aushadhi Kendra during his tour and interacted with staff and beneficiaries. He noted that the centres were providing quality medicines at significantly lower prices and urged people to make full use of them. Later, he visited the newly established 1 MW solar plant on the outskirts of Choppadandi and reviewed details related to project cost, loan structure, and operational capacity. In a media statement, Bandi Sanjay explained that under the PM-KUSUM scheme, the Modi government is actively encouraging cooperatives to set up solar plants. He said NABARD is offering loans covering over 80% of the project cost, making it easier for societies to invest. The total cost of a 1 MW plant is Rs 3.80 crore, of which the cooperative must contribute Rs 40 lakh, while Rs 3.40 crore is provided as a loan by NABARD at 4% interest.

He added that cooperatives that repay EMIs on time receive a 3% interest rebate, effectively reducing the loan interest to just 1%. “This is a golden opportunity for cooperatives to secure long-term income and strengthen rural financial systems,” he said.

The Minister highlighted that the Choppadandi plant is the first such project in the Karimnagar Parliamentary constituency, while four others have been set up in Peddapalli district. He urged cooperatives across the state to adopt this model, noting that DISCOMs purchase power at Rs 3 per unit, ensuring steady revenue.

Bandi Sanjay also clarified that individuals can apply for solar plant loans at 9% interest, with a 3% rebate for timely repayment. He said that setting up a 1 MW plant requires 3 acres of land, and those with available land should apply immediately to benefit from the scheme.

Reiterating the Centre’s commitment, he said the government would extend all necessary support to expand solar infrastructure and help rural communities achieve financial stability.