MISSION -
The Indian solar industry is witnessing a remarkable period of growth. It achieved a capacity addition of over 2 GW in 2015-16, compared to about 1.1 GW in 2014-15 and less than 1 GW in 2013-14.
The coming years are expected to record even higher capacity addition as is evident from the growing list of companies announcing project development plans. There is high interest among equipment and technology providers from across the world to invest in manufacturing in India. Financiers too are keen to invest in this space.
The growth in investor interest can be attributed to the government’s commitment towards promoting solar power by providing a conducive environment to enable rapid capacity addition.
In the past two years, the government has announced a slew of initiatives to provide an impetus to the solar power segment. It has launched a scheme for the development of solar parks and ultra mega solar power projects, introduced a viability gap funding mechanism for project allocation, re-launched the bundling scheme for much higher capacity allocation than earlier, and unveiled various decentralised solar power programmes.
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