India would achieve its target of 175 GW of installed renewable energy (RE) capacity well before 2022 for which bidding process would be completed on time.
Speaking at a “Action to Transaction Meet” under aegis of PHD Chamber of Commerce and Industry here on Friday, New and Renewable Energy Ministry Secretary Anand Kumar said International Solar Alliance (ISA) will help mobilise sufficient funds for solar energy projects.
He said over the years the renewable energy has become cheaper and is set to replace conventional energy, which is a healthy development, and added that India has one of the fastest growing renewable energy programmes in the World and the country would achieve its target of 175 GW of installed renewable energy capacity well before 2022.
ISA will help mobilise sufficient funds for solar energy projects, he added.
“Prime Minister Narendra Modi wants India to be an innovation hub for which we have to start thinking and supporting about the new ideas for renewable sources particularly in solar energy with the objective of providing renewable energy to the common man as an affordable pricing”, he added.