The previous target of 20 GW for Solar power projects and installations was raised to 100 GW as a result. To put these numbers in perspective, the cumulativeelectricity generation capacity in India is less than 250 GW and the installed solar capacity is less than 3 GW.
Meeting the 100 GW solar power target alone is estimated to require an investment of Rs 7,70,00 crore (or 125 billion) in the next seven years. In February, MNRE and IREDA conducted a three-day event, RE-Invest India, to get foreign investors and project developers to commit to this target.
The event was hugely successful - the valedictory session with Union Ministers Goyal, Jaitley, Prabhu and Javdekar ran to a packed house. More importantly, commitments to fund and build capacity exceeding the target were handed over to the Prime Minister via this event. Apart from structural changes in the overall power sector, several small but crucial steps are needed for this non-linear, inorganic renewable energy aspiration and ambitious commitments to be made a reality.
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Source: green-power-project.blogspot.com
