India is a capital starved country and so is looking to state owned power finance companies like REC and PFC. These finance companies are primarily involved with loaning money to thermal power projects. Sixty percent of India's power generating capacity comes from thermal power. IREDA also a a state owned dedicated funding agency has funded over fifty percent of India's wind (NYSEARCA:FAN) power projects. IREDA is looking to shift from wind energy to solar(NYSEARCA:TAN)energy.
By Sneha Shah
INDIA has set up a very ambitious solar target of 100 GW BY 2022 which would require at least 125 BILLION in investment. Given that the country is capital starved, many analysts have dismissed this target and said that India would be lucky to meet even half of that target.
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"THE LAST WORD: BECAUSE INDIA IS A CAPITAL STARVED COUNTRY THE INDIAN GOVERNMENT IS LOOKING TO STATE OWNED POWER FINANCE COMPANIES TO HELP FINANCE SOLAR ENERGY COMPANIES IN ORDER TO MEET ITS GOAL OF 100 GW OF SOLAR ENERGY BY 2022. REC AND PFC ARE TWO SUCH COMPANIES. IREDA WHICH IS A FUNDING AGENCY OWNED BY THE GOVERNMENT IS LOOKING TO SHIFT ITS FOCUS FROM WIND POWER TO SOLAR."
Article source: http://www.wallstreetsectorselector.com/investment-articles/editors-desk/2015/01/india-solar-target-requires-125-billion-investment/
The post India Solar Target Requires 125 Billion Investment appeared first on Renewable Electron.
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