Faridabad is being developed as pilot solar city for which the Union Ministry of New and Renewable Energy has conveyed its sanction in-principle for providing financial assistance amounting to Rs 2

By 2017, the cost of generating solar power in India could be as low as the cost of buying conventional electricity if the National Solar Mission sticks to its target.

SEI Solar Power Pvt Ltd will raise around $34.3 from the International Finance Corporation (IFC) to support its proposed greenfield solar farm project in Rajasthan.

SEI Solar is a joint venture between Singapore-based SunEdison Energy and Astronergy Solar Korea Co Ltd The fund raising will help the company develop, construct, own and operate a 24 Mw greenfield solar PV power plant at Ugaras village in Jodhpur district.

The Government is looking at adopting the viability gap funding model for the second phase of the National Solar Mission, said Gireesh B.

The rising cost of conventional power, largely driven by increasing raw material exports and the growing cost of putting up green-field facilities coupled with the steady decline in solar power cos