Author | Veselina Petrova —
The US may provide financing support and equipment to India in order to help the Asian nation achieve its ambitious 100 GW solar target by 2022, the Economic Times said Friday, citing government officials.
US president Barack Obama is expected to visit India and in February the country’s government and top executives of funding agencies and American ministries will discuss India’s clean energy finance issues, according to the report.
The daily cited a senior Indian government official as saying that US firms are willing to invest in new areas in India, including the solar segment.
US companies have already unveiled significant investment initiatives in India, which is a prelude to many compatriots’ interest to do the same, the unnamed officials say. The most recent one is SunEdison’s pact with India’s Adani Enterprises to build a USD-4-billion (EUR 3.53bn) photovoltaic (PV) product factory in Gujarat state.
In order to achieve its 100-GW goal, India has to invest INR 6 trillion (USD 97.6bn/EUR 85.9bn) in the solar sector. At present, the country’s installed solar power capacity stands at about 3 GW.