India to Lift Solar Target Fivefold to 15 Gigawatts

Sept. 16 (Bloomberg) — India is preparing to lift its
solar target to 15 gigawatts by 2019, more than five times
current capacity, as Prime Minister Narendra Modi seeks to
accelerate clean-energy deployment.

The government may scrap plans to auction 1,500 megawatts
of solar projects by April in favor of a more ambitious program
to install 5,000 megawatts to 7,000 megawatts annually, New
Delhi-based advisory Bridge to India Energy Pvt. said in a note
to clients, without saying how it obtained the information.

The government plans to support 15 gigawatts of
installations over the next five years, up from its current plan
for 3.6 gigawatts by 2017, Bridge to India said. Subsidies to
lower borrowing costs for projects are among the incentives
under consideration, it said.

Independent state-level programs could further that target,
Bridge to India said. Andhra Pradesh, Telangana and Madhya
Pradesh states may soon host solar parks of 1 gigawatt each, it
said.

To contact the reporter on this story:
Natalie Obiko Pearson in New Delhi at
npearson7@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Abhay Singh, Andrew Hobbs

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