New Delhi: India is preparing to lift its solar power target to 15 gigawatts (GW) by 2019, more than five times the current capacity, as Prime Minister Narendra Modi seeks to accelerate clean energy deployment.

The government may scrap plans to auction 1,500 megawatts (MW) of solar projects by April in favour of a more ambitious programme to install 5,000-7,000MW annually, New Delhi-based advisory Bridge to India Energy Pvt. Ltd said in a note to clients, without saying how it obtained the information.

The government plans to support 15GW of installations over the next five years, up from its current plan for 3.6GW by 2017, Bridge to India said. Subsidies to lower borrowing costs for projects are among the incentives under consideration, it said.

Independent state-level programmes could further that target, Bridge to India said. Andhra Pradesh, Telangana and Madhya Pradesh may soon host solar parks of 1GW each, it said. Reuters

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