Space For Rent

Space For Rent
Sunday, January 04, 2015, Poush 21, 1421, Robiul Awal 12, 1436 Hijr


India eyes $100b solar investment by 2022
Published : Sunday, 4 January, 2015,  Time : 12:00 AM,  View Count : 10

NEW DELHI, Jan 3: Indian Prime Minister Narendra Modi has ramped up his target for solar energy as he bets on renewables to help meet rising power demand and overcome the frequent outages that plague Asia's third largest economy, a senior official told Reuters.
India gets twice as much sunshine as many European countries that use solar power. But the clean energy source contributes less than 1 per cent to India's energy mix, while its dependence on erratic coal supplies causes chronic power cuts that idle industry and hurt growth.
Modi now wants companies from China, Japan, Germany and the United States to lead investments of $100 billion over seven years to boost India's solar energy capacity by 33 times to 100,000 megawatts (MW), said Upendra Tripathy, the top official in the Ministry of New and Renewable Energy.
That would raise solar's share of India's total energy mix to more than 10 per cent. In Germany, a leader in rene?w?able energy, solar accounted for about 6pc of total power generated in 2014.    ?Reuters










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