India is progressing at an unprecedented pace in all realms and sectors. The segment which is outgrowing its pace is solar energy – a segment which has remained a challenge for the country. But now, the path seems to be clearing and becoming fuss-free.
Masayoshi Son, CEO, Softbank Group said, “Cost of Solar power generation is much cheaper in India compared to rest of the world. I will give free power from solar power projects after 25 years of PPA (power purchase agreement) to all ISA member countries.”
Softbank, which is India’s biggest start-up funder has committed that it will be providing solar energy for free, in India. Adding to the reinforcement, PM Modi said that he is aiming to provide solar energy to the entire country – increasing the solar capacity to 100 giga watt by 2022 from 23 giga watt at present. This idea also coincides with Narendra Modi’s aim of 100% household electrification. This is being run under the Saubhagya campaign.
Softbank Chief Executive Officer Masayoshi Son has committed to providing free power to all members of the ISA after completion of 25 years of power purchase agreement (PPA) with them.
Sofbank has invested in Indian start-ups like Oyo hotels, Paytm, Ola and Flipkart. As far as solar energy is concerned, the prices have been falling incredibly. Last year, the price of solar energy dropped off to the historic low of Rs 2.44/unit.
The solar energy is a renewable source of energy, which doesn’t pollute the environment. It is something which all environmentalists reckon with. The only problem with solar energy and why it’s not able to grow in India is the heavy installation costs and consequent maintenance costs. With NaMo leading this aim, Indians can stay assured of the possibility of the target.