Investors keen on setting up 200 GW of clean energy projects in five years

NEW DELHI: Foreign and domestic investors have shown interest in setting up 2,00,000 MW of clean energy projects in the next five years, twice the government’s ambitious target, potentially making India the world’s top investment destination for renewable ventures.

"We have so many commitments from investors to set up clean energy in India. We have received commitments for over 200 gigawatts. As of now, I expect 30-35 per cent of $100 billion, which is required to instal 100 gigawatts of solar power, to come as FDI," coal, power and renewable energy minister Piyush Goyal said.

Of the targeted 100 gigawatts, the government plans to generate 40 gigawatts of clean energy through rooftop solar generation, 20 gigawatts through solar parks, another 20 gigawatts through micro-grids in remote areas and the remainder through other programmes. "We’re planning to involve educated, but unemployed youth to set up off-grid solar plants in villages and remote areas, thereby generating employment and energy," he added.