Pursuits
Billionaires Need More Than Money for Modi’s Green Target
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Billionaires from India and some from abroad are lining up investments to realize Prime Minister Narendra Modi’s green energy target of 175 gigawatts by 2022. They face greater hurdles than the $200 billion needed.
On Monday, Indian telecommunications billionaire Sunil Mittal announced a joint venture with Softbank Corp.’s Masayoshi Son to spend $20 billion to set up 20 gigawatts of solar power in a decade. That follows plans by billionaire Gautam Adani to form a joint venture with SunEdison Inc. to build India’s largest photovoltaic panel plant, with as much as 7.5 gigawatts of annual production capacity.