January 23, 2015: The United States is likely to extend funds and supply of equipment to India to help it achieve the target of 100GW of solar power generation by 2022.
The project which requires an investment of more than Rs 6 trillion, is seeing interest from some top executives of funding agencies and US government in the project. The governments, in February, will discuss the clean energy finance.
India recently saw a $4 billion deal between India’s Adani Group and American solar company SunEdison to set up solar PV manufacturing facility in the country. This step shows how the India’s solar target and also the use of ‘made in India’ solar PV cells and modules, is interesting the US company’s and even the government.
The made in India tag is bringing international companies to invest and produce in India, thus lending to India’s clean energy sector.
It is also reported that Michael Bloomberg, the owner of Bloomberg LLP and the former mayor of New York, directors from the US EXIM bank and officials from US department of treasury will be presiding over the Clean Energy Finance Forum. The event will be a part of RE-Invest Summit, a three day event to be held in Delhi from 15 to 17 February.
The event will see large solar companies from countries including US, UK Germany, Japan and China.
RE-Invest has thus far received interest from large solar companies from the US, UK, Germany, Japan and China that are ready with plans to set up over 100 gigawatt of solar power already.
On the other hand, MNRE has prepared a cabinet note which has a yearly target break up of installation of 100GW by 2022. The projects under this will range from mega solar projects, to smaller project and even rooftop installation.
