Saturday, June 23rd, 2018

India’s $100 billion solar push draws foreign firms as locals take backseat

A worker sprays water on grass inside a solar power plant in GujaratBy Tommy Wilkes and Aman Shah NEW DELHI/MUMBAI (Reuters) – India's $100 billion push into solar energy over the next decade will be driven by foreign players as uncompetitive local manufacturers fall by the wayside, no longer protected by government restrictions on the sector. The money pouring into India's solar industry is likely to be soaked up by foreign-organized projects such as one run by China's Trina Solar – not the country's own solar panel manufacturers. Last week, Softbank became the latest foreign player to enter India's solar market, leading an investment of up to $20 billion.

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