UP Receives ₹2 lakh Crore Investment Commitments in Solar Sector


  • UP energy minister announced that the state has received multiple investment commitments after the launch of its new Solar Policy 2022
  • He appeals to stakeholders to invest in the booming solar sector of the state

Uttar Pradesh energy minister A.K Sharma announced that the state has already received investment commitments worth ₹2 lakh crore in the solar energy and related sector. The minister was part of a delegation to New Delhi in a precursor event to the Global Investors Summit that would be held from February 10-12 in Lucknow.

When asked about the state’s investment targets in the RE sector, Mr. Sharma said that even though the New Solar Policy 2022 was launched just two months ago, UP has already received many investment commitments.

He also stated that the rooftop and ground-mounted solar projects in the agriculture sector would be the growth drivers of the demand for green energy in the state. The Uttar Pradesh government recently entered into a PPA with private developers to install solar plants for farmers.

Moreover, under the new policy, the state government will set up utility-scale projects, ultra mega solar parks, distributed solar systems, and develop solar cities, said Mr. Sharma.

Finally, the minister highlighted the various business opportunities in the clean energy sector that are bound to provide great returns. He appeals to investors to invest in Uttar Pradesh and benefit from the multiple subsidies and incentives in the solar sector.

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Resource: ET EnergyWorld

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