The Rs.500,00,00,00,000 Indian Solar Market?

The Rs.500,00,00,00,000 Indian Solar Market?

According to a recent TOI report, The Rajasthan Renewable Energy Corporation (RREC )has received 90 proposals worth 3,000 MW capacity to set up solar power ventures. That is a potential Rs. 51,000 crore in the offing. RREC has already approved proposals from over 11 companies including Azure Power India Private Limited, Reliance Industries, Jindal Power, Par Solar, GVK Power and Infrastructure Ltd, Moser Baer Photovoltaic Ltd. This says a lot about the government’s aggressive new stance in regard to power projects. In a country traditionally dependent on coal and natural gas, newer and friendlier alternatives such wind, hydro, and solar power offer new opportunities.

One of the hurdles solar power will face is the high upfront costs in infrastructure. According to a report, the cost per megawatt of solar power is close to Rs 20 crore, while that of coal and natural gas is almost four times lesser Rs 4-5 crore. We believe that solar’s long-term advantage over non-renewable, dirty fuel sources is clear. Fortunately, the Indian government has taken a bold step of making a long-term investment in the growth of this sector with it’s announcement of theJawaharlal Nehru National Solar Mission. Solar’s ability to pay off in the long run as well as the subsidies it can earn from the government due to it’s long term, strategic importance to solving our energy and climate crises. Moreover, an investment in the solar sector will mean thecreation of more jobs, versus other sources of power, particularly as the JNNSM brings more manufacturing of solar power plant components to India. Solar PV plants generate 0.91 jobs per Gigawatt hour (GWh), versus coal, which generates 0.11 jobs per GWh.

Azure Power is at the forefront of this national effort. Because we design, finance, construct, and operate our plants, our incentives are aligned to produce the most clean power at the lowest cost. We get paid per unit of power we produce, whether by our commercial or utility customers. We work throughout India, supported from our operations centers in Delhi and the US.

Please contact us if you are interested in powering your future with clean, reliable solar energy.