India will set up a $350 million fund to finance solar projects, Power Minister R.K. Singh said, as the country steps up efforts to achieve its ambitious target of adding 175 gigawatts (GW) in renewable energy by 2022. India will need at least $125 billion to fund a plan to increase the share of renewable power supply in the country's grid by 2022, underlining the immense financing challenge ahead. The country, which receives twice as much sunshine as European nations, wants to make solar central to its renewable expansion. It expects renewable energy to make up 40 percent of ...
Govt to set up $350 mn fund in bid to add 175Gw in renewable energy by 2022
Installed renewable power capacity is currently about 60 GW, and India plans to complete the bidding process by the end of 2019/20 to add a further 115 GW