The Indian Ministry of New & Renewable Energy has set a revised target to generate up to 100GW of solar power project, up from earlier target of 20GW by 2022, under the National Solar Mission.
In order to meet the target, the country will need an investment of Rs6 trillion ($91.9bn) out of which $64bn will be sourced through debt from both domestic and international financial institutions.
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The revised target will include 40GW rooftop solar power capacity and 57 GW utility-scale solar power projects.
About 200MW of rooftop solar power capacity is expected to be added during the current financial year, which will be increased to 4.8GW in the next financial year.
The ministry targets to add up to 9GW of rooftop solar power in financial year 2021-22.
The revised plan looks to add 1.8 GW of utility-scale solar power capacity in the present financial year, which is expected to be increased to 7.2 GW in 2016-17, and eventually the target has been set to 18GW by 2020-21 and 2021-22.
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By GlobalDataIndian Minister for Power, Coal and Renewable Energy Piyush Goyal said that the Government has launched a scheme for setting up 25 solar parks in the country where land, evacuation arrangement and common infrastructure will be available for setting up solar power projects.
