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JAN 18 2017

Solar energy can help in poverty alleviation: Power minister Piyush Goyal

  • Economic Times, ET Bureau / Hyderabad
  • Created: Wed 18th JAN 2017

Solar energy can help in poverty alleviation programmes as it can provide income to a large number of people having land but no income from it, Power Minister Piyush Goyal has said.

"Solar can add value to poverty alleviation efforts and deeply impact education for children. Several people with land rights have no economic return, solar can provide them income," Goyal said at a session of World Future Energy Summit 2017 at Abu Dhabi.

Goyal is leading a 20-member official and business delegation in the Summit. The minister is of the view that solar is an economically sound business proposition. The spread and success of the solar story will happen on its own merit. The whole world is conspiring to make this happen.

According to a statement released by industry body FICCI, Goyal also said that the International Solar Alliance can play an important role as a catalyst to bring the recipients of technology and capital.

"It is the fastest launch of an international organisation from concept to launch. Technology will play a crucial role. We need consumers, policymakers, private sector, and academia to come together in a partnership to make the ISA a successful platform", he added.

The minister also said, "India s energy security is going to define our energy mix. It is in India's interest to enhance renewable energy not just for combating climate change but for its own energy security. Getting out of feed in tariff and into competitive bidding has strengthened the system. This is great for investors looking for transparent systems."

"We have looked at ameliorating counter party risk for distribution companies through a payment security mechanism. Even on a day to day basis, renewable energy will become very attractive compared to fossil based energy," he added.

Goyal further said, "For new investments, the environment is a lot more exciting and attractive. Investors present at the roundtable suggested three measures by government to provide comfort one, land acquisition; two, connectivity in transmission, and three, assurance that projects will not get delayed due to power purchase agreements."



Distribution Companies Renewable Energy Solar Energy Payment Security Tariff Land Acquisition Energy Security FICCI Energy Power India Solar

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