NEW DELHI: State-owned Indian Renewable Energy Development Agency (IREDA) said in a statement on Thursday that the upcoming solar and wind projects in the country, may attract an investment of $20 billion each year from next fiscal until 2018-19.
Quoting IREDA CMD K S Popli, the PHD Chamber of commerce and industry said, “To harness the potential of solar and wind energy in India, we anticipate an estimated $20 billion to this project from domestic and global financial firms for the next three years. The project aims to increase solar and wind power generation capacity in India to about 10,000 MW – 12,000 MW by the end of 2019″.
Earlier, inaugurating the national conference on renewable energy in Delhi, IREDA CMD Popli said that until now, the solar and wind power generation project has already attracted an investment of about $10 billion from domestic and foreign financial institutions. He also expressed confidence over completing the Solar power project well before the estimated date, if they received the required financial support in time.
“Out of the $10 billion investments that we have received so far, the share of Solar has been to the tune of $5 billion and that of Wind $4.5 billion”, Popli said.
With the Central government planning to commission Solar projects with a capacity of 3,000 MW by the end of March 2017, Solar Energy Corporation of India (SECI) managing director Ashvini Kumar said that the SECI would soon call for tenders in the next two weeks, to begin the project on a fast note.