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India to provide subsidy for solar power plants |
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New Delhi, India - India will subsidize the running of solar power plants to help develop a renewable energy infrastructure, where high costs can be prohibitive, the minister for renewable energy said on Wednesday.
Renewable energy accounts for about 7.5 percent of India's installed generation capacity of 127,673 MW, a rate that compares favorably with much of the rest of the world.
The incentives, for a period of 10 years, will be over and above any financial assistance provided by the states, said V. Subramanian, secretary to the ministry.
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"My ministry will provide financial assistance amounting to 12 rupees (30 cents) per kilowatt hour in case of solar photovoltaic and 10 rupees per kilowatt hour in case of solar thermal power fed to the electricity grid." |
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