Thursday, February 27, 2014: In an effort to implement clean energy and more importantly reduce the excessive dependence on electricity by power grids, five major companies in Bangalore have joined hands for an aggregate solar power project. The companies include the likes of Infosys, Cognizant, Coke, Philips and Bangalore International Exhibition Center.
The project is implemented by the World Resources Institute under its Green Power Market Development Group, which was launched in January 2013. This project reportedly received four bids from suppliers, now, with two finalists, it has reached negotiations with individual companies, said a TOI report. David Waskow, the director of the international climate initiative at the World Resources Institute said, “It is not an enormous project, but one which will be demonstrative in nature.”
Waskow said that these actions enthuse others and since the “solar prices are falling sharply every year, with rising prices of conventional power, we believe that we are very close to the inflexion point for mass adoption of solar power.”
KPMG has said that at nearly Rs 6 per KWh, the inflexion point will be reached. The price parity between grid power and solar is likely to be achieved by 2017-18. While, the government subsidies and low prices are the two parameters, which have pushed people to adopt renewable energy. The market is full of devices to make use of solar energy generative power, ranging from home appliances to electricity producing units.