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India to offer incentives for solar modules: PM

New Delhi, November 26

PM Narendra Modi on Thursday said production-linked incentives similar to those for electronic manufacturing will be offered for high-efficiency solar modules to boost the generation of electricity from renewable sources which has the potential to generate an annual business of USD 20 billion.

Speaking at the Renewable Energy (RE)-Invest 2020 conference, he invited global investors to join India’s renewable energy journey. “There are huge renewable energy deployment plans for the next decade,” he said, adding that these are likely to generate business prospects of the order of around USD 20 billion per year.

“Today, India’s renewable power capacity is the fourth largest in the world. It is growing at the fastest speed among all major countries,” he said. Renewable energy capacity will rise to 220 GW by 2022 from the current 136 Giga Watts (GW), he added. — PTI

Renewable energy capacity to rise

According to the PM, the renewable energy capacity will rise to 220 GW by 2022 from the current 136 GW. “Today, our renewable power capacity is the fourth largest in the world,” he added.

Source From : Tribune India

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