Indian solar industry attracted $10 billion financing in 2017, more than double from $4 billion in 2016, as projects gathered steam on the back of Narendra Modi government’s push to create 100 GW (giga watt) solar power capacity by 2022. In terms of total funding, Indian solar companies raised $3.6 billion through venture capitals, private equity funds, public market and debt in 2017. This accounts for 28% of such funding globally. Project financing alone rose to about $6.4 billion on the back of nearly 10 GW of solar installations coming along as compared to $3.5 billion financing activity with installation of 4 GW of solar capacity in 2016. Debt financing also saw a significant year-on-year growth.

(Times of India)