Piyush Goyal, the Power, Coal and New and Renewable Energy Minister, today said the government will work to create a federation of 50 solar power-rich nations.
The minister said the government will build a federation of countries which have interest in solar and have the potential to become masters of renewable energy countries.
“We are going to work with the World Economic Forum and Indian Renewable Energy Development Agency to build a consortium of renewable energy countries in the days ahead. We will work together to make India renewable energy capital of the world,” he said.
While inaugurating the RE-Invest conference, Prime Minister Narendra Modi said that efforts should be made to form a group of 50 nations with abundant solar energy to look for technology solutions.
293 firms have committed to build 266 GW or 266,000 MW renewable energy capacity in the next five years.
At the RE-Invest conference in Delhi, 14 banks and financial institutions, eight public sector units and 15 private sector companies gave green energy commitments.
State-run power generator NTPC will invest Rs 60,000 crore ($10 billion) for setting up renewable energy projects in the next five years.
Several companies are planning to add renewable energy capacity. Welspun Energy is planning to generate 11,000 MW renewable energy, ReNew Power 11,500 MW, Reliance Power 6,000 MW, Hindustan Power projects 10,000 MW and Sun Edison 15,000 MW.
In addition, State Bank of India (SBI) expressed intention to finance Rs 75,000 crore for generating 15,000 MW of green energy.
Sabeena Wahid
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