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PM Modi calls for concessional, less-risky financing for solar projects

Press Trust of India  |  New Delhi 

today called for concessional and less-risky finances for raising the share of in the mix and pledged to generate 175 gigawatts (GW) of in from renewable sources by 2022.

Speaking at the founding conference of the (ISA), Modi presented a 10-point action plan that includes making affordable available to all nations, raising the share of generated from photovoltaic cells in the mix, framing regulations and standards, consultancy support for bankable solar projects and creating a network of centres for excellence.

For achieving the ISA target of over 1,000 GW of solar generation capacity and mobilisation of investment of over USD 1 trillion by 2030, Modi called for concessional financing and less-risky funds being made available for such projects.

India, he said, will generated 175 GW of electricity from renewable sources including 100 GW from solar.

ISA secretariat has to be strengthened and made professional, he said, adding that presents a permanent, affordable and reliable source for meeting of mankind.

As a demonstration of India's commitment to ISA, Modi said 500 training slots will be created for member countries and a mission will be started to lead R&D in the sector.

To supplement generation, has distributed 28 crore LED bulbs in the last three years which have helped save USD 2 billion and 4 GW of electricity, the said.

ISA, headquartered in near here, is now a treaty-based inter-governmental organisation that was established following the Declaration as an alliance dedicated to the promotion of among its member countries.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, March 11 2018. 11:05 IST