Lack of fund may stall India’s clean energy plans

NEW DELHI, India – India’s Prime Minister Narendra Modi, following meetings with US President Barack Obama in New Delhi, said the country is, adopting renewable power to reduce greenhouse gas pollution. The two heads of state also announced a breakthrough that may herald an expansion of carbon-free civilian nuclear projects.

Modi said the renewable power commitment represents building five times the current total installed solar capacity in the US, or 600 solar farms with 20 megawatts of capacity for each or about 12 gigawatts a year until 2022.

The project, however, is wanting of some US$160 billion funding, according to Arunabha Ghosh, CEO at the New Delhi-based Council on Energy, Environment & Water.