Indian solar industry can attract $70-80 bn investment: Modi
New Delhi, Oct 2 : India wants to create a robust ecosystem for the manufacture of solar panels in the country to give a filip to the sector which can provide opportunities for investments worth $70-80 billion, Prime Minister Narendra Modi said on Tuesday.
Inaugurating a joint assembly here of the International Solar Alliance (ISA), the Indian Ocean Rim Association (IORA) Renewable Energy Ministerial and Global RE-Invest 2018, Modi said in the last four years, India has emerged as the most favourable destination for renewable energy investment and has attracted $22 billion of investment in the sector.
He said the government's target is to generate 40 per cent of India's total energy requirements in 2030 by non-fossil fuel based sources.
"Solar power generation costs in India have gone down hugely, while the country has become the most favourable destination for renewable energy. In the last 4 years, the sector has attracted investments worth $22 billion," he said.
"We want to set up a strong ecosystem for manufacture of solar panels in the country. This area has immense opportunity available, for investment worth $70-80 billion."
Elaborating on India's strides in clean energy development during the tenure of the NDA government, Modi said that 72 gigawatt (GW) of renewable energy capacity had been added in this period, while solar capacity had gone up nine-fold from earlier.
"Power storage is equally important and a National Energy Storage Mission is being drawn up from the perspectives of demand creation, manufacture, innovation and augmenting storage capacity," the Prime Minister said.
He said that towards achieving the government's target of achieving 175 GW renewable energy capacity by 2022, it is planned to install 28 lakh solar pumps across the country in the next four years which would add capacity of 10 GW.
Giving the call of "One World, One Sun, One Grid", Modi said that the "ISA will assume tomorrow the role that the OPEC (Organisation of Petroleum Exporting Countries) is playing today."
"We are moving to a future where oil wells will be replaced by the rays of the sun in meeting our energy needs," he said.
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RCB beat MI by 18 runs after batters fire
Mumbai (PTI): Royal Challengers Bengaluru skipper Rajat Patidar, Phil Salt and Virat Kohli blasted half-centuries as the defending champions beat Mumbai Indians by 18 runs in an Indian Premier League match here on Sunday.
Salt (78 off 36 balls) and Kohli (50 off 38 balls) stitched together a 120-run stand for the opening wicket before Patidar scored a rapid 53 off just 20 balls as RCB posted 240 for 4.
In response, Mumbai Indians were restricted to 222 for 5, with RCB spinner Suyash Sharma (2/47) putting the skids on the home side with a double strike in the eighth over, from which they could not recover.
Sherfane Rutherford top-scored for MI with an unbeaten 71 off 31 balls.
While opener Rohit Sharma appeared to be struggling with a hamstring issue and had to retire hurt on 19, his partner Ryan Rickelton made 37, while Suryakumar Yadav (33) and Hardik Pandya (40) were the other contributors for MI.
Brief scores:
Royal Challengers Bengaluru 240 for 4 in 20 overs (Phil Salt 78, Virat Kohli 50, Rajat Patidar 53, Tim David 35 not out).
Mumbai Indians: 222 for 5 in 20 overs (Sherfane Rutherford 71 not out, Ryan Rickelton 37, Hardik Pandya 40; Suyash Sharma 2/47).
