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NRI Investment To Help Punjab Reach 1 GW of Solar Target By 2017

The Punjab government is targeting solar power generation of 1000 NW by 2017 with a major investment in this sector coming from Non-Resident Indians (NRIs), a minister said.

"Renewable energy is fast emerging as 'sun-rising' sector for NRIs due to investor friendly unique policies of Punjab with more than INR 15 billion worth of investment in solar energy fructifying in the last three years with total generation capacity of 225 MW.

Source: Silicon India

SNP Insights

The investment by cash rich NRI will result in setting up of projects with capacity in the range of 2-35 MW. But as the state is registering investment from significant numbers of NRIs, the overall result will be positive with chances of installation of around 225 MW by FY 16-17.