The Modi government has set a big target for the Solar generated power in India, and following in the steps of their leader, the Delhi government has also put the solar wheels in motion by setting up a target to produce 2000 MW of electricity through Solar by the year 2025.
In a conference organized by Associated Chambers of Commerce and Industry of India (ASSOCHAM), The Delhi power minister Satyendra Jain said that the Delhi government is targeting to produce 1000 megawatts of electricity by 2020 and 2000 megawatts (MW) by 2025 through Solar power generation in a phased manner, based on the Renewable Energy Service Company (RESCO) mode. The Delhi govt plans to achieve the 1,000 MW target in next 3-4 years’ time, with 30-40 MW as a target in the first year, 100 MW in the second year, 200 MW in the third year, followed by 400 MW and so on.
With financing in solar industry as the biggest challenge, the Delhi Power Minister suggested the financial institutions to introduce ‘solar power mutual funds, and luring the investors by providing assured units of power at a fixed rate.
The target may seem far sighted, but can be achieved if the Solar projects are provided with a fast track mechanism. Read More..