India Inc wants policy support to bet on wind, solar energy

India’s green energy initiatives, which aim to boost solar power capacity to 20,000 mw in a decade, and expand windmills, have made rapid progress but entrepreneurs want supportive policies to sustain growth.

India aims to meet 15% of its power needs, or 80,000 mw, from renewable sources by 2020, with an investment of Rs 1.5 lakh crore. This has boosted investment in the sector by 54% in just one year, and solar power capacity has leaped to 905 megawatts from a negligible 8 mw three years ago, making India one of the top 10 global destinations for investments.

“The sector is highly optimistic. Between the national solar mission projects and the state sponsored projects, the total demand is more than 1 gw over the next year,” said Rajiv Arya, CEO of Moser Baer Solar… Read more

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