The Union Cabinet on 17 June 2015 gave its approval for stepping up of solar power capacity target under the Jawaharlal Nehru National Solar Mission (JNNSM) by five times to 100000 MW (100 GW).The target to be achieved by 2022.
The earlier target was producing solar power of 20000 MW by 2022.
With this target, India will become one of the largest green energy producers in the world, surpassing several developed countries.
The target will principally comprise of 40 GW rooftop and 60 GW through large and medium scale grid connected solar power projects.
The total investment in setting up 100 GW will be around 6 lakh crore rupees.
In the first phase, the Union Government will be providing 15050 crore rupees as capital subsidy to promote solar capacity addition in the country. This capital subsidy will be provided for rooftop solar projects in various cities and towns, for Viability Gap Funding (VGF) based projects to be developed through the Solar Energy Corporation of India (SECI) and for decentralized generation through small solar projects.
Apart from this, solar power projects with investment of about 90000 crore rupees would be developed using Bundling mechanism with thermal power.
Significance of the revised target to 100000 MW
• It will contribute to the long term energy security of India, and reduce dependence on fossil fuels that put a strain on foreign reserves and the ecology as well.
• The solar manufacturing sector will get a boost as the revised target will help in creation of technology hubs for manufacturing.
• The increased manufacturing capacity and installation are expected to pave way for direct and indirect employment opportunities in both the skilled and unskilled sector.
• It is expected to abate over 170 million tonnes of CO2 over its life cycle.
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When: 17 June 2015