According to a Clean Technica report, solar power bids have fallen by over 50 percent in India in the past five years
The system, which is in the final stage of commissioning, is expected to generate minimum 1.479 million units of solar energy per annum, RSP said in a statement today.
The Union Cabinet in its meeting also approved another agreement with Germany to roll out the 'Make in India' campaign for the capital goods sector.
"There is an initiative led by India and announced by Prime Minister Narendra Modi, which we welcome and joined into, in which we joined a hundred other countries in a new International Solar Alliance (ISA) in order to expand the use and development of solar energy in every corner of the globe," Secretary of State John Kerry said in Brussels.
The International Solar Alliance was launched by Prime Minister Narendra Modi along with French President Francois Hollande on Monday on the sidelines of the 195-nation United Nations climate summit here to tackle climate change.
Modi also announced that India will host the initiative in the premises of the National Institute of Solar Energy in Gurgaon, Haryana. He said that India will provide land and contribute about USD 30 million to build the Secretariat infrastructure of the initiative and support its operation for the next five years.
Green buildings not only help to reduce pollution but also bring down the cost of living.
Sembcorp, which plans to focus on wind and solar energy, where costs are expected to drop further by 2020, has total power capacity of about 8,800 megawatts (MW).
Goyal was speaking at the India-US Ministerial Energy Dialogue held at the US Department of Energy here on September 21. The Indian delegation was led by Goyal while the US side was led by Dr Ernest Moniz, the US Secretary of Energy.
Spread across Karnataka, Tamil Nadu and Andhra Pradesh, these projects will connect more than 850 megawatts (MW) of solar energy to the grid and will be among the biggest solar projects worldwide, the company said in filing to BSE.
"This year we are targeting about 7.5 percent to 8 percent growth. We are quite confident that upwards of 7.5 percent is what we can reasonably expect," Economic Affairs Secretary Shaktikanta Das said at an ICRIER event here.
The US strongly supports rapid deployment of solar energy around the world, including in India and will continue to work to ensure that the best products and technologies are available to global consumers, an American Trade Representative official has said.
Describing solar energy as the ultimate solution to India's energy problems, he called upon Indian scientists to work towards developing more efficient equipment which could revolutionise the entire sector.
Vineet Mittal, Vice Chairman Welspun Renewables said the 52 MW clean energy project is strengthening partnership with Maharashtra.
Prime Minister Narendra Modi is committed to it "not merely by words but by action" as he believes in it passionately, Goyal said addressing senior officials from Centre and States at Vigyan Bhawan here on a workshop on "Grid Connected Solar Rooftops."
The money pouring into India's solar industry is likely to be soaked up by foreign-organised projects such as one run by China's Trina Solar - not the country's own solar panel manufacturers.
Lavina Mahbubani has created a bag packs that can power gadgets using solar energy. Her Bangalore based firm Lumos Design Technology has already sold closed to 2000 Lumos bag packs across the globe.
Indian Railways will float tenders to procure at least 200 mega watt of solar energy in the next two months, a step which will promote use of non-conventional energy in its daily functioning.
State Bank of India (SBI) has committed Rs 20,000 crore worth projects over the next five years. SBI is the largest contributor to the Renewable Energy Mission 2022.
CNBC-TV18 has learnt that public sectors banks have committed over Rs 60,000 crore for starters towards the Renewable Energy Mission 2022.
Continuum owns and operates 242 MW of wind power plants in Maharashtra and Gujarat, and has another 170 MW project under construction in Madhya Pradesh and more than 1,000 MW in development stages across six states in the country.
GiIC has signed a Memorandum of Understanding (MoU) with Kakinada SEZ (KSEZ), a subsidiary of GMR Infrastructure, to set up an industrial park for the high-end Chinese equipment manufacturing companies, a BSE filing said.
Japan is now one of the world's four largest markets for solar panels and a large number of power plants are coming onstream, including two giant arrays over water in Kato City and a USD 1.1 billion solar farm being built on a salt field in Okayama, both west of Osaka.
Havells is also aiming to expand Promptec business to Rs 250 crore in next 3-4 years from its current revenues of Rs 35 crore. On being asked as how the multifold growth would be achieved, he said: "Promptec's technology would be benefited with our large marketing network.
SASTRA has inked a pact with Tata Power Trading Company (TPTCL) under which the latter will sell electricity generated from the facilities to the university for 15 years, the private solar firm said in a release here.