SOLAR INDUSTRY CAN ATTRACT USD 80 BILLON—PM MODI
India wants to create a robust ecosystem for the manufacture of solar panels in the country to give a filip to the sector which ...
India wants to create a robust ecosystem for the manufacture of solar panels in the country to give a filip to the sector which can provide opportunities for investments worth USD 70-80 billion, Prime Minister Narendra Modi has said. Inaugurating a joint assembly of the International Solar Alliance (ISA), the Indian Ocean Rim Association (IORA) Renewable Energy Ministerial and Global RE-Invest 2018 at Greater Noida, Mr Modi said in the last four years India has emerged as the most favorable destination for renewable energy investment and has attracted USD 22 billion of investment in the sector.
He said the Government's target is to generate 40 per cent of India's total energy requirements in 2030 by non-fossil fuel based sources.
"Solar power generation costs in India have gone down hugely, while the country has become the most favourable destination for renewable energy. In the last 4 years, the sector has attracted investments worth $22 billion," he said. "We want to set up a strong ecosystem for manufacture of solar panels in the country. This area has immense opportunity available, for investment worth $70-80 billion."