Government to set up $350 mn solar development fund

New Delhi, Jan 18 : The government will set up of a $350 million solar development fund for financing solar projects, Power Minister R.K.Singh has said.

Singh stated that over the years, renewable energy has become cheaper and is set to replace conventional energy, which is a healthy development, adding that India has one of the fastest growing renewable energy programmes in the world.

"The country would achieve its target of 175 GW of installed renewable energy capacity well before 2020," Singh said.

He was speaking at a two day event ‘International Solar Alliance Forum during January 17-18, 2018 at the Future World Energy Summit (WFES) 2018. The WFES is a signature event of a global initiative, Abu Dhabi Sustainability Week, hosted by Masdar during January 15-18, 2018 at Abu Dhabi.