India welcomes foreign manufacturers to set up solar PV production facilities, says PM

By Editor


Greentech Lea d India: India will double its renewable energy capacity from 25,000 MW in 2012 to 55,000 MW by 2017, Prime Minister Manmohan Singh at the inaugural session of the Fourth Clean Energy Ministerial.

India is exploring non-conventional clean energy sources such as solar and wind power, as well as energy from bio mass, the PM said.

However, the pace at which India can expand its reliance on renewable energy sources is constrained by the fact that they are more expensive than conventional energy. The cost of solar energy has been reduced by half over the past two years, but it’s still higher than the cost of fossil fuels. However if the cost imposed by carbon emission is taken into account, the cost of non-conventional sources of energy is justifiable, he said.


[email protected]

Latest News