Modi Embraces the Dollar to Spur India’s Solar Power Boom
India will soon invite bids for its first dollar-linked solar power contracts, seeking to cut costs and woo investment as Prime Minister Narendra Modi targets an unprecedented expansion in clean energy.
Modi’s target is 100 gigawatts of solar power by 2022, up from about 4.1 gigawatts currently, to reduce India’s reliance on dirty, coal-fired power plants that make the nation one of the world’s biggest polluters. He needs to find about $94 billion to realize his goal, part of push to end blackouts.
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