India is turning into the next big destination for solar energy, with demand for solar systems rising in the developing world, including China. The move to cleaner energy got a further fillip on Wednesday, when India and Germany signed an agreement to set up one of the world’s biggest solar energy station in Dhule district of Maharashtra.
For this, the German government owned development bank KfW has approved a loan of Rs 1,600 crore for a 125 MW solar power station. The total cost of the project would be Rs 2,370 crore.
“Developing the use of solar energy sources not only helps address environmental concerns, but also improves energy security and spurs regional economic development” said Uwe Ohls, director general Europe and Asia, KfW. “Therefore, the solar power plant at Sakri, being the largest of its kind in India and, in fact, the entire world, will open up new opportunities for a more secure and sustainable energy future in India.”
It is not the first feat in solar energy sector for India.
Recently, the world’s largest solar photovoltaic cell manufacturing unit was set up in Haryana costing Rs 2,000 crore. “The plant will be operational in the next 14 months”, said an official of Jain Solar Energy Private Limited. The technology is being provided by Schmid Technology System of Germany.