Renewable Industry Backs Pms Green Mission

The participating companies in the first Renewable Energy Global Investors Meet Expo (RE-INVEST), which is scheduled to take place in February 2015, have provided non-binding investment indication of more than 160 GW solar power generation capacity and five GW per year of solar manufacturing capacity.

This highlights their support for the Prime Minister Narendra Modi's plan for increasing renewable energy generation capacity in the country. Among the major private solar players, which have made commitment are Essel Infra Projects, Azure Power, SunEdison, Welspun, Renew Power and First Solar. The conventional power companies, which have also made commitment for setting up of renewable energy projects are Adani Power and Reliance Power.

The international companies, which have made a commitment include Canada-based project developer Sky Power Global, CPEC had commissioned a project under the Gujarat Solar Policy and are also mulling for developing 9 GW of capacity. The public sector companies, which have shown interest to set up renewable energy projects are NTPC, NEEPCO, Coal India Ltd, NHPC Ltd, Hindustan Petroleum Corporation Ltd, IREDA and Satluj Jal Vidyut Nigam.

In the sphere of manufacturing, three existing Indian players who have their ambitious plans are Vikram Solar, Waaree Energies and Emmvee Photovoltaic. Meanwhile, LT Finance stated that it would like to finance 6.5 GW and Yes Bank 5 GW of renewable energy projects over the next 5-7 years.

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