Prime Minister Narendra Modi said that India will produce 175 gigawatts of electricity from renewable resources by 2022, during his inaugural speech at the International Solar Alliance (ISA) at Delhi’s Rashtra Bhavan. He also said that almost 100 GW out of the total will be generated from solar resources.
The Prime Minister also stressed on his government’s plan to provide low-cost electricity by saying that at least 28 crore LED bulbs were distributed in the last three years which has helped to save around two billion dollars and at least 4GW of electricity. He further added that his government is also planning strategies to ensure maximum utilisation of solar energy and is also planning to provide around 500 training slots for ISA member countries so as to promote solar tech R&D.
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PM Modi also introduced 10 action points that can promote the solar sector. He also stressed the importance of concession financing, use of affordable technology and research to increase the share of solar electricity in the energy mix. He concluded his speech by calling for efficient regulations and standards to promote solar energy.
Modi’s announcement comes soon after a report from Reuters which said that the solar industry in the country is going to receive a great promotion as the government aims to raise a $350 million fund to finance projects related to the sector. Power Minister RK Singh has also backed the PM and said that the government is leaving no stones unturned to realise its target of producing 175 gigawatts (GW) in renewable energy by 2022.
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