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Mumbai: The union cabinet on Wednesday approved state-run power producer NTPC Ltd's plans to set up 15,000 megawatt of grid-connected solar projects, which would be completed in three tranches.
The rapidly falling cost of solar power has ignited interest in its potential in Asia's third-largest economy, which relies on coal for three-fifths of its energy needs while solar supplies less than 1 per cent.
Prime Minister Narendra Modi aims to make India one of the world's largest renewable energy markets, targeting 100,000 MW of output by 2022 from just 3,000 MW currently.
© Thomson Reuters 2015
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