PANJIM, AUG 20 -- A modern Renewable Energy Park will be established in Margao under Goa Energy Development Agency (GEDA) disclosed Chief Minister Digambar Kamat at a function held to commemorate Rajiv Gandhi Akshay Urja Diwas at Goa Science Centre, Miramar today. The function coincided with the birth anniversary celebration of former Prime Minister of India late Rajiv Gandhi and was organized by Goa Energy Development Agency in association with Ministry of New and Renewable Energy, Government of India. Elaborating further on the proposed park, Kamat said the project is estimated to cost Rs 2 crores, of which Rs one crore will be funded by the Union Government and the rest will be borne by the State Government and it is expected to be completed in 18 months. "It will be equipped with devices run on solar and wind energy and facility to treat organic garbage and the park will also be useful for the student community to get themselves acquainted with the process of solar conversion into electricity and about different softwares', added Kamat. Speaking further the CM said the use of renewable energy has increased in the country. However, in Goa this energy is not being used more due to climatic conditions, he said, and mentioned that the setting up of Renewable Energy Park will go a long way to promote renewable energy in Goa. The Chief Minister also referred to the observance of Rajiv Gandhi Akshay Urja Diwas and recalled the enormous contribution made by former Prime Minister for the development of the nation. He said, Rajiv Gandhi was the architect of modern India and a great visionary because of whose contribution India made great strides in IT and telecommunications sector. He said, this national leader also worked for the modernization of India and that the people of this country should be proud of the fact that India today ranks 5th in the world in IT sector. Working unitedly to make India a powerful nation in the world will be a fitting tribute to late Rajiv Gandhi, Kamat said. Chief Secretary J P Singh was present on the occasion.