India to Fund $158 Million for 1 Gigawatt of Solar Projects
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India said it will give as much as 10 billion rupees ($158 million) to state-run companies for building 1 gigawatt of grid-connected, solar-photovoltaic power projects in the next three years.
The companies will have to use photovoltaic cells and modules made in India to avail the funding, according to a government statement. The government will do away with statutory clearances for projects located in “remote areas” where land is “inexpensive.”