Gadkari said that the operational costs of MSMEs can be reduced by using Rooftop Solar Installations as the electricity costs comprise up to 20% of the operating expenses of MSMEs

MSME NEWS

 

The Union Minister of MSMEs, Mr. Nitin Gadkari said, 16 GW worth of solar rooftop capacity can be created from Micro, Small And Medium Enterprises (MSMEs) by the end of 2022.”

“Of the 40 GW, four gigawatts to come from the domestic solar rooftop, whereas 16 gigawatts potential can be harnessed from MSMEs,” Gadkari said while speaking at a webinar organized by SBI and World Bank on accelerating adoption of rooftop solar by MSMEs. “MSME is the most critical sector for advancing the country’s growth,” he added.

MSME EWS

India is falling behind its expected objective of 40 GW, and reception by MSMEs may give it a truly necessary catalyst. Gadkari recommended cold-stockpiling units as a suitable area that can receive rooftop solar and use it for their use, instead of paying business rates for power that arrive at almost 10 to 11 rupees for each unit.

Country Director for the World Bank in India, Mr. Junaid Ahmad said, “We want to make a commitment to India. Whether it is in infrastructure or MSME, we want to come in and reduce risks. Doing so will enable us to leverage money at several folds.”

The share of installed rooftop solar projects has reached 6.4 GW, according to a recent report by consultancy firm Bridge to India. The overall installed capacity of renewable energy was 92.5 GW as of January 2021, according to The Central Electricity Authority (CEA).

In 2015, The National Institute of Solar Energy (NISE) had estimated a rooftop solar potential of 42.8 GW in India, and accordingly, a target of 40 GW of installed capacity by 2022 has been set by the government.

Resource The Economic Times

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