PM Narendra Modi Calls For Concessional, Less-Risky Financing For Solar Projects


PM Narendra Modi Calls For Concessional, Less-Risky Financing For Solar Projects

Prime Minister Narendra Modi today called for concessional financing and less-risky funds for solar projects to raise the share of solar power in the energy basket, provide cheaper electricity and cut carbon emissions.

Speaking at the founding conference of the International Solar Alliance (ISA), he said India will generate 175 gigawatts (GW) of electricity from renewable energy sources by 2022.

This would be more than double the present renewable energy capacity and would be enough to overtake renewable expansion in the European Union for the first time.

Modi, the chief architect of ISA that seeks to bring together 121 nations, presented 10 action points including making affordable solar technology available to all nations, raising the share of electricity generated from photovoltaic cells in the energy mix and framing regulations and standards to support the initiative.

He said better and cheaper solar technology should be easily available to all nations. “We have to increase the share of solar in energy mix,” he said. Read More…

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