Solar, wind projects may attract $20 bn investment: IREDA

Solar and wind projects in the country would attract USD 20 billion investment each year from next fiscal until 2018-19, state-owned Indian Renewable Energy Development Agency (IREDA) said on Thursday. "USD 20 billion of investment is anticipated from fiscal 2016-17 for harnessing the potential of solar and wind energy in India from leading financial agencies world over...for next three years to enable it add solar and wind capacities to an estimated level of between 10,000 MW to 12,000 MW each year by 2019," PHD Chamber of Commerce and Industry said in a statement quoting IREDA CMD K S Popli. Inaugurating a national conference on renewable energy here today, Popli said that until now, solar and wind sectors have already attracted close to USD 10 billion of investments from global and domestic financial institutions.

"Of the USD 10 billion of investments, the share of solar has been to the tune of USD 5 billion and that of wind USD 4.3 billion," Popli said. Solar Energy Corporation of India Managing Director Ashvini Kumar said that SECI would come out with floating tenders for solar capacities in next two weeks as the government has already asked it to commission solar energy projects with capacities of 3,000 mw by March 2017.