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Dr. Farooq Abdullah Calls for Greater Investment in Solar
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Saturday, May 26, 2012:
NEW DELHI, INDIA: Union Minister of New & Renewable Energy, Dr. Farooq Abdullah, has called upon the industry leaders to invest in solar energy projects in the country. He was addressing the first meeting of the Solar Energy Industry Advisory Council (SEIAC) in New Delhi.
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Dr. Abdullah assured them of the full support of the Government in setting up solar projects based on both grid connected as well as off grid applications. At the same time, he asked industry leaders to respond favourably and positively to the incentives offered by the Government in this direction.
The Minister said that India has a vast scope for developing solar energy applications as still many parts of rural India do not have access to grid connected electricity. He cited the example of high altitude places in Ladakh where solar energy has changed people’s lives.
Anand G. Mahindra, chairman of the Council, assured the support of the industry in achieving the goals of the Jawaharlal Nehru National Solar Mission (JNNSM). Describing the meeting as very fruitful, he said the Council would deliberate and offer advice on technology matters, manufacturing, investments and fiscal policies that are critical for the growth of the solar industry in India.
The meeting deliberated on a range of issues concerning the growth of Solar Energy Industry in India. These included role of Renewable Energy Certificates (REC) in making renewable power projects commercially viable, REC pricing, issues regarding Renewable Purchase Obligations (RPO), hybridization of projects, technology transfer, support and promotion of domestic manufacturing eco-systems and financing support for manufacturing and power generation projects.
The Solar Energy Industry Advisory Council has been constituted by the Ministry of New & Renewable Energy to advice the Ministry on various technology related matters, attract investment across the value chain, steps required to encourage R&D and drive down costs and make the Indian solar industry globally competitive.
It will review the status of Indian solar industry from time to time and suggest measures required and a road map to accelerate the growth to achieve manufacturing level of about 4-5 GWeq per year by 2017-2020. The Council is chaired by Anand G. Mahindra of Mahindra & Mahindra, and has leading industrialists as members.
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