Union Cabinet approves Solar Power capacity target to 1 lakh MW under JNNSM by 2022

Union Cabinet approved increasing India’s solar power capacity target under the Jawaharlal Nehru National Solar Mission (JNNSM) to 1 Lakh Mega Watt (MW) by 2022.
Decision to increase solar power capacity by five times form current capacity was taken by Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.
1 Lakh Mega Watt (MW) target principally will comprise of 40,000 MW from Rooftop and 60,000 MW through Large and Medium Scale Grid Connected Solar Power Projects.
After meeting this ambitious target, India will become one of the largest Green Energy producers in the world by surpassing several developed countries.
Apart from this decision, Cabinet Committee on Economic Affairs (CCEA) also approved setting up of over 2,000 MW of Grid-Connected Solar Power Projects on BOOT (build, own, operate, transfer) basis. It will be set up by Solar Power Developers with Viability Gap Funding under JNNSM with total investments of 12,000 crore rupees.
These projects will help in generation of additional 2000 MW capacity of Grid-connected solar power projects and create employment of about 12,000 people in rural and urban areas. It will also help to reduce about 3.41 Million Tonnes (MT) of carbon emissions into the open environment every year.

Month: Current Affairs - June, 2015