New Delhi: The Government is likely to launch a new version of PM KUSUM Yojana, which would enable farmers to generate renewable electricity while carrying out farming on the same land, Union Minister Pralhad Joshi said on Tuesday.

Follow The PSUWatch Channel on WhatsApp

Launched in 2019 with an outlay of Rs 34,422 crore in 2019, the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) aims to encourage the use of renewable energy in the agriculture sector and help farmers reduce irrigation costs by adding 34,800 MW solar capacity by March 2026.

Under the scheme, more than 10 lakh standalone solar agricultural pumps have been installed, and over 13 lakh grid-connected agricultural pumps have been solarised across the country.

"The deadline of the scheme is nearing. I have requested the Prime Minister for PM KUSUM 2.0," Joshi, the Minister for New and Renewable Energy, said at the 4th National Agro-RE Summit in the national capital.

The second version is expected to be introduced with higher targets and outlay, the minister told PTI.

Several states are engaging with the MNRE and seeking support for PM KUSUM scheme, the minister added.

The minister informed that the government is preparing PM-KUSUM 2.0, which will include a dedicated 10 GW agri-PV component to promote the co-location of solar panels with crops.

Follow PSU Watch on LinkedIN

This initiative will enable farmers to generate electricity while continuing agricultural activities on the same land, creating a new model for decentralised renewable energy generation in rural India, the ministry said in a statement.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)