Global PE majors, cell makers, power utilities line up to be part of 100,000-Mw wave
As Indian policy makers announce big-ticket projects and set huge targets for solar power capacity addition, global investors smell a huge opportunity. US-based Morgan Stanley is likely to make a big investment in the solar space soon, likely in a +100-Mw project. So are other institutional investors such as IFC and Standard Chartered. Besides, Goldman Sachs, which invested about $375 million in Sumant Sinha-promoted ReNew Power, is looking to make more such investments in noted or upcoming companies in the clean energy space.
US Exim Bank, during Prime Minister Narendra Modi’s recent visit to the US, extended a funding of $1 billion for solar power programmes in India. “Similarly, ADB and German state-owned KfW are also on board for providing funding to the solar programmes to be announced by the government,” said a senior government official in the ministry of new and renewable energy (MNRE). Solar power in India is about to see a massive scale-up of 100,000 Mw. MNRE has got the mandate from the prime minister to achieve this goal by 2019.
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