PM Modi calls for concessional, less-risky financing for solar energy
Prime Minister Narendra Modi on Sunday called for concessional and less-risky finances for raising the share of solar electricity in the energy mix and pledged to generate 175 gigawatts (GW) of electricity in India from renewable energy sources by 2022. The prime minister was speaking at the founding conference of the International Solar Alliance (ISA).
PM Modi's 10-point action plan presented during the conference
Modi presented an action plan that includes making solar technology available to all nations, raising the share of electricity generated from photovoltaic cells in the energy mix, framing regulations and standards, consultancy support for bankable solar projects and creating a network of centers for excellence.
India will generate 175 GW of electricity from renewable sources
For achieving the ISA target of over 1,000 GW of solar generation capacity and mobilization of investment of over $1 trillion by 2030, PM Modi called for concessional financing being made available for such projects. Adding that the ISA secretariat has to be strengthened and made professional, he said India will generate 175 GW of electricity from renewable sources, including 100 GW from solar.
India distributed 28 crore LED bulbs in last three years
As a demonstration of India's commitment to ISA, Modi said 500 training slots will be created for member countries and a solar technology mission will be started to lead R&D in the sector. To supplement solar energy generation, India has distributed 28 crore LED bulbs in the last three years which have helped save $2 billion and 4 GW of electricity, PM Modi said.
