Daily News Mail

Pact for world's largest solar panel plant

• Pact of  Rs. 25,000 crore signed between U.S. based global solar energy company, SunEdison Inc and Indian multinational conglomerate company, Adani Group, to set up world's largest solar photovoltaic manufacturing facilities in Gujarat.
• The project will not only create thousands of jobs, but also provide a much-need impetus(the force or energy with which a body moves) to the country's electrification programmes through solar energy.
• Gujarat is already leader in solar power generation in country and contribute two-third of total 900 MW of photovoltaic solar energy in India. The state has commissioned Asia's largest solar park in Charanka village. The park is already generating 2 MW of power out of its total capacity of 500 MW.
• The Welspun Solar MP project is a 151 MW photovoltaic power station in Madhya pradesh has been built by welspun Energy Ltd. through its subsidiary Welspun Solar Madhya Pradesh Private Ltd. at a cost of Rs. 1000 crore. It is the largest solar power plant in India.
• Solar Photovoltaic contributes only 4.59% of total renewable energy installed in the country of 29.9 GW and the highest contribution is by wind energy which contributes 68.9% of the total renewable energy installation in the country.
• Gujarat has the highest installed solar capacity while Rajasthan has the highest solar potential of 142 GWp while the country has solar potential of ariund 750 GWp
• The Jawaharlal Nehru National Solar Mission was launched on the 11th January, 2010 by our former Prime Minister, Dr. Manmohan Singh. The Mission has set the ambitious target of deploying 20,000 MW of grid connected solar power by 2022 and aims at reducing the cost of solar power generation in the country through (i) long term policy; (ii) large scale deployment goals; (iii) aggressive R&D; and (iv) domestic production of critical raw materials, components and products. It has been envisaged to achieve grid tariff parity by 2022.
• In January 2015, the Indian government significantly expanded its solar plans targeting 100 GW of solar power by 2020 and this is the same target as China set for its solar industry by 2020.

Vibrant Gujarat Summit : India's economy is expected to grow 6.4% this year, says World Bank

• Vibrant Gujarat Global Investors Summit is a biennial summit organised by Gujarat state government in India to attract foreign investors for the development of Gujarat.
• The 7th summit is attended by World Bank President Jim Yong Kim, U.N. Secretary General Ban Ki Moon, Secretary of State of USA John Kerry, Bhutan P.M. Tshering Tobgay and 2,500 foreign delegates from around 120 countries.
• World leaders laid thrust on renewable energy and sustainable development.
• World Bank president Jim Yong Kim projected the Indian economy to grow 6.4% this year.
• Projecting India as a 3D investment destination, P.M. Narendra Modi said the country had "democracy,demography and demand".