PM Narendra Modi wants India Inc to increase green energy intake, says government official

Prime Minister Narendra Modi wants the Indian companies to mandatorily increase "clean" green energy intakes, an official said in Mumbai on Wednesday.

"Industries have already been asked to get a portion of total power requirement from renewable sources. But everyone has not implemented it. Therefore, the Prime Minister wants the corporates to mandatorily increase clean energy intakes," a senior government official told PTI on the condition of anonymity.

The government especially wants to promote use of solar power. It has also set a target of 100 GW solar power production by 2022, against the existing 3,000 mw.

"The parliamentary committee on power met last night where instructions were given to officials to hold meetings with the states. We want the states to formulate policies whereby developers will be able set up power plants.

"At the same time, they will have to come up with some kind of compensation package for farmers or make them stakeholders in the project," the official said. Compared to other sources like wind, hydel or biogas, solar is the cheapest. The government expect the cost of solar power to also come down to Rs 6 per unit from Rs 15 some years back, the official said.