AAP govt targets 1000 MW solar power in next 5 yrs

“The state will produce 2,000 MW electricity by 2025 through solar power generation,” the Power Minister claimed.

Addressing a conference organised by Assocham, Jain said solar power will be the only option in future as the cost of <g data-gr-id="33">coventional</g> power is “drastically” increasing every year.

“We want to achieve 1,000 MW target in next 4-5 years’ time and we aim to generate 2000 MW electricity by the year 2025 in a phased manner,” Jain said, while inaugurating a conference on solar power. 

“Our target would be 30-40 MW in the 1st year, 100 MW in the 2nd year, then 200 MW in the next year followed by 400 MW and so on,” he said. He said the rates of solar power have also been similar to convention power and hoped that solar power will be much cheaper in coming years.

“Five or ten years ago, nobody would take <g data-gr-id="42">interest</g> in solar power, the reason was that rates of solar energy have almost been similar to the rates of conventional power. Whatever we say about solar power and delay in implementation of power project today but it is true that there will be only solar power in future and there will be no alternative,” said Jain. 

Stressing on the need for innovation and new inventions in solar power generation, the minister said, “We aim to fast-track solar power projects in Delhi by about 20 <g data-gr-id="27">per cent</g>. Solar panels could be installed at railway platforms, metro stations, bus stops etc.”

“We hope that there will be <g data-gr-id="46">decline</g> in rates of solar power in future. <g data-gr-id="45">There</g> rates of solar power will be three times less compared to conventional power rates in terms of capital cost,” Jain said.

Terming financing of solar power generation as a challenge, he suggested the financial institutions to introduce “solar power mutual funds”, and luring the investors by providing assured units of power at a fixed rate.