Friday, April 18,2014: Availability of cheaper funds can help the solar sector in the country to grow, stated a latest report. The report also emphasised on liberalised external commercial borrowing norms , among other measures, to help boost India’s solar energy sector.
The report was prepared by Hindustan Power in association with PHD Chamber of Commerce. It stated that increased solar general capacity can be helpful in reducing the dependence on power from coal plants. The report on solar energy sector highlights measures that can help in providing the desired boost to the sector in the country including availability of cheaper finance.
It also mentioned the liberal ECB norms, that can help in raising cheap finance along with creation of green banks for cheaper funding and innovative financing mechanisms. The total installed solar generation capacity of the country is over 2,200 MW at present.
According to Business Standard, the report said, “If we are to fasten the pace of growth of solar power in the country by setting aggressive solar targets of say 100 GWs in the next few years, we shall be able to able to displace 25,500 MW of coal based plant leading which is dependent on imported coal saving over Rs 2,77,032 crore for the exchequer.”
