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Business EconomyPosted at: Feb 23 2018 5:09PM


India will achieve target of installed RE capacity before 2022: Secy

New Delhi, Feb 23 (UNI) India would achieve its target of 175 GW of installed renewable energy capacity well before 2022 for which bidding process would be completed on time.

Speaking at a "Action to Transaction Meet" under aegis of PHD Chamber of Commerce and Industry here on Friday, New and Renewable Energy Ministry Secretary Anand Kumar said International Solar Alliance (ISA) will help mobilise sufficient funds for solar energy projects.
He said over the years the renewable energy has become cheaper and is set to replace conventional energy, which is a healthy development, and added that India has one of the fastest growing renewable energy programmes in the World and the country would achieve its target of 175 GW of installed renewable energy capacity well before 2022.
ISA will help mobilise sufficient funds for solar energy projects, he added.

"Prime Minister Narendra Modi wants India to be an innovation hub for which we have to start thinking and supporting about the new ideas for renewable sources particularly in solar energy with the objective of providing renewable energy to the common man as an affordable pricing", he added.

He said that ISA was an excellent idea which helps million of people to provide universal energy excess. Most important thing is Indian idea and Indian initiative and now as a government wants to move it global competitive, according to official statement here.

ISA is conceived as a coalition of solar resource rich countries to address their special energy needs and to provide a platform to collaborate on addressing the identified gaps through a common, agreed approach. It has the backing of around 121 countries rich in solar energy, the Secretary said.

In his welcome remarks, PHD Chamber President Anil Khaitan said the role of new and renewable energy has been assuming increasing significance in recent times with the growing concern for the country's energy security. Energy self-sufficiency was identified as the major driver for new and renewable energy in the country.
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