Chief ministers of major states pledged to increase their targets for renewable energy and encourage local manufacturing with incentives, cheering investors in the sector as local authorities have a key role in India’s aim to become a global hub in the sector.
Chief ministers from Uttar Pradesh, Gujarat, Madhya Pradesh, Rajasthan, and Himachal Pradesh spoke on Friday at the 3rd edition of RE-Invest, organised by the Ministry of New and Renewable Energy. These states have significant renewable energy capacities, and announced plans to expand them further.
“Investors will be pleased to know that for solar manufacturers waivers will be given for projects. We have already provided exemptions in areas such as state GST, stamp duty, and land acquisition for both solar and wind projects,” said Rajasthan CM Ashok Gehlot.
Gehlot said the price of solar energy had fallen from Rs 16 per unit 20 years ago to Rs 2. This will surely reduce further. If we continue to involve all stakeholders— experts, investors, and policymakers, the rates will further go down” he said.
Madhya Pradesh’s chief minister, Shivraj Chouhan, said his government had ambitious plans to build on the 750 MW capacity solar project in Rewa, which was inaugurated earlier this year and is Asia’s largest such initiative till date.