The government is showing its concern towards reducing fossil fuel reserves. The government is taking up initiatives to invest in solar and wind power projects in order to give a boost to the power sector and resolve electricity problems, in fact the government has started working on unexplored potential lying in the desert regions- Thar in Rajasthan, Rann of Kutch in Gujarat, Lahul & Spiti in Himachal Pradesh and Ladakh in Jammu & Kashmir. The plan could include an investment of Rs. 2 Lakh Cr by 2022.
The use of solar power is a “GO GREEN” approach taken up by the government to reach the increasing demand for power. The government’s goal is to produce 10 gigawatts of solar power by 2017; already the country has 2.8 gigawatts of the technology installed, enough for 6 million homes in the nation of 1.2 billion people. Hence the government is going great on investments in the power sector and I can see growth in this sector. So, we are bullish on companies which are in solar and wind energy in power sector.