Lightsource Renewable Energy to invest USD992.97 million in India
India: UK based Lighthouse
Renewable Energy has announced to invest USD992.97 million in next three years
in 1000 MW solar energy projects. The maiden solar energy project won by
Lightsource was 50 MW solar project in Maharashtra last year. The company is
planning to contribute to government’s ambitious target of adding one lakh MW
of solar energy facility by 2022. Last year, the company had collaborated with
SREI Infrastructure Finance Limited for foraying into Indian Solar Energy
Space. Further, the company will only secure projects through competitive
bidding in India and would avoid MOUs or other forms of Contracts.
TechSci Research depicts that over the past couple of decades,
consumption of fossil fuels for power generation in India has increased
significantly due to increasing urbanization and industrialization. However,
considering future energy requirements and concerns associated with fossil
fuels, India has taken huge strides over the past three years in developing its
solar potential by implementing green growth agenda along with commissioning of
solar power plants, thereby creating the demand for solar power equipment
market in the country.
According to released report of TechSci Research “India
Solar Power Equipment Market Forecast &
Opportunities, 2020”, the solar power equipment market in India is
projected to surpass USD 4 billion by 2020. Constantly improving solar
equipment technologies, advanced manufacturing processes for production of
hi-tech equipment and anticipated decline in equipment prices is projected to
further drive the solar equipment market over the next five years.
Launch
of Jawaharlal Nehru National Solar Mission by Government of India in 2010 has
been a major initiative taken to promote sustainable development of the solar
energy sector in the country