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Solar investments of up to USD 200bn expected in India

Rooftop solar system in India. Author: Coshipi. License: Creative Commons, Attribution-ShareAlike 2.0 Generic

Feb 11, 2015 (SeeNews) - India’s solar energy industry may take up some USD 200 billion (EUR 176.7bn) in investments, the government estimates, based on the huge interest from domestic and international firms.

The country has set a goal to have 100,000 MW of installed solar power capacity by 2022, up from the current 3,000 MW. However, the investment commitments India has received already exceed a capacity of 200,000 MW, Piyush Goyal, coal and renewable energy minister, told reporters on Wednesday, as cited by the Press Trust of India (PTI).

Roughly 40,000 MW of the total solar target will be achieved with the installation of rooftop solar arrays, the minister has said. He also mentioned he is talking to seven or eight Indian states with solid solar power potential.

The share of renewables in India’s energy mix currently stands at 6.5%. The goal is to raise it to some 12% in the next three years.

(USD 1.0 = EUR 0.884)

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