Invest US$ 5 Billion! India May Come into a New Gold Solar Country
According to foreign media, India is committed to solar energy development and the government plans to invest heavily in the industry. This has attracted a large number of foreign investors.
Investors are increasingly turning to India in the search for long-term environmental projects: Prime Minister Moody wants to build a huge solar park to promote renewable energy from fossil fuels to Asia's third largest economy, Switzerland Daily reported on May 1. His goal is to invest $100 billion in the solar industry in the next five years. Behind him was the World Bank's loan support. India's solar investors are less supportive than a country's.
Local natural conditions are ideal, and the annual sunshine time usually exceeds 300 days. In less than three years, solar installed capacity has tripled. This growth was driven by falling solar panel prices and lower loan costs.
Nevertheless, the installed capacity of 12 billion Watt Solar power generation is about 31.5 billion watts, accounting for only a small part of the total installed capacity. Moody plans to increase solar installed capacity to 100 gigawatts by 2022. This has attracted investors from all over the world. Japan's telecom giants and major investors and partners of Softbank have pledged to invest $20 billion in India's solar industry.
European companies such as the French Electric Power Company and the Italian National Electric Power Company are currently active in India's renewable energy market. The same goes for Goldman Sachs, JP Morgan Chase and Morgan Stanley Investment Funds. In addition, the world's largest pension fund is also trying, such as the Canadian market leader of the Canadian Pension Plan Investment Committee.
But investors worry that debt-ridden Indian energy suppliers may not be able to repay their loans. Some investors are worried that there is a profit risk due to the fall in electricity prices.