BENGALURU, India India's renewable energy ministry has announced a new program designed to expand solar power generating projects up to a maximum capacity of 50 megawatts.
Solar developers who build, own and operate projects will be supported with financial incentives of about 30 cents for each kilowatt of solar power generated per hour. Incentives for thermal power fed to power grids would be slightly less, according to a government statement.
Faced with inadequate power generation and big transmission and distribution losses, the Indian government wants to generate at least 10 percent of its electricty through solar power by 2012.
A total of 33 solar photovoltaic power plants connected to the Indian power grid have already been built with government support. The plants are expected to generate 2.55 million units of electricity annually.
India now has 19 manufacturers of solar photovoltaic modules. Several more large investments are in the pipeline, including one by EDA industry veteran Prabhu Goel, whose Signet Solar plans to invest up to $2 billion in solar development.