PM Modi, French President Macron inaugurate UP's largest solar plant
What's the story
Taking a step forward in the direction of green energy, PM Narendra Modi and French President Emmanuel Macron inaugurated 75 MW solar power plant in Uttar Pradesh's Mirzapur. The largest solar power plant in UP has been built in collaboration with French solar power giant ENGIE Solar at Dadar Kala, some 25km from Mirzapur under the International Solar Alliance (ISA) programme. Here's more.
Details
Solar plant built at a cost of Rs. 500 crore
The solar power plant was built at a cost of around Rs. 500 crore. Some 118,600 solar panels have been set up in over 380 acres. The plant will generate 15.6 crore units of electricity annually, about 1.30 crore units per month. Power would be transmitted to Jigna sub-station of Mirzapur range of Uttar Pradesh Power Corporation Ltd., officials said.
Renewable energy
India will generate 175 GW electricity by 2022: Modi
Seeks to bring 121 nations together, Modi said India will generate 175 gigawatts of electricity from renewable energy sources by 2022. This will be more than double the present renewable energy capacity and be enough to overtake renewable expansion in the EU for the first time. India needs some $83 billion between FY2018-2022 to meet its 175 GW target, according to industry estimates.
Data
Country's renewable energy installed capacity is 62 GW
At present, the country's renewable energy installed capacity is 63 GW. Solar and wind power tariffs have dropped to an all-time low of Rs. 2.44/unit and Rs. 3.46/unit, among the lowest in the world.
Financing
Modi called for concessional financing
PM Modi was addressing the founding conference of the International Solar Alliance (ISA) in New Delhi yesterday. Modi had called for concessional financing and less-risky funds for solar projects to raise the share of solar power in the energy basket, provide cheaper electricity, and cut carbon emissions. Headquartered in Gurgaon, the ISA is now a treaty-based inter-governmental organization.