With the renewed focus of the Indian government on clean energy and in line with the vision of the company to invest in promising sectors, the company is planning a foray in the solar power business.

The move comes at a time when the government is pursuing an ambitious target to generate 175,000 megawatts (MW) of green energy by 2022. Of the total 100,000 MW of solar power capacity planned, 20,000 MW will come from solar parks and 40,000 MW each from roof-top and distributed generation projects. The government plans to set up 25 such solar parks. India has around 300 days of sunshine per year. India’s theoretical solar power reception, on its land area is about 5,000 trillion kilowatt-hours. Assuming the efficiency of PV (Photovoltaic) modules as low as 10%, this would still be a thousand times greater than the domestic electricity demand projected for the year 2015.

The government has also taken following initiatives to promote solar power in the country

  • 100% Foreign Direct Investment
  • Zero Customs & Excise Duties on solar cells, modules and many raw materials and grid power projects

Sara a leading Indian player in the Power sector is now looking to expand its portfolio by venturing into solar power. "We have to consolidate, achieve more growth, and invest in technology so as to bring the cost of solar energy down. We are now focusing on the need for solar energy and looking to partner with global leaders. In the next financial year, we will begin offering our customers solar alternatives.