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“We have a target for renewable energy generation of 175 Gigawatt by 2022. We have got off to a good start with nearly 12 GW likely to be installed by 2016, more than three times the current capacity,” Prime Minister Narendra Modi said during the inauguration of the Indian Pavillion at COP21, Paris.
Of the target capacity, 100 GW would be from solar power, 60 GW from wind, 10 GW from biomass and 5 GW from small hydro power, according to the Ministry of New and Renewable Energy.
“In order to achieve the proposed capacity of 100 GW target by 2022, the overall investment required would be around ₹600,000 crore ($89.88 billion) at ₹6 crore per MW at the present cost,” Power Minister Piyush Goyal said in his reply to a question in the Rajya Sabha, the upper house of Parliament, referring to the solar energy target.