India is likely to spend over Rs 1 lakh crore on setting up of power plants based on renewable energy sources by the end of 2011-12, according to Devasis Majumdar, chairman and managing director of Indian Renewable Energy Development Agency (IREDA).
“As per the target of the 11th Five Year Plan, power plants with a capacity of 14500 MW based on renewable energy sources would be set up by the end of 2011-12. So far, power plants with a capacity of 3,000 MW based on renewable energy sources have been set up at an investment of Rs 15,000 crore”, he said.
