India says private companies of Australia, Japan want to invest in India's solar sector

Commerce and Industry Minister Suresh Prabhu Tuesday said many firms of Australia and Japan are keen to invest in India in the solar energy sector and there is a need to send market signals for attracting more funds into research and development.

India has set a target to generate 100 GW solar energy by 2022 for increasing share of carbon-free energy in the energy mix, the minister was quoted as saying in an official statement.

He also said that joint efforts are required to reduce the cost of finance and technology for massive production of solar energy.

The minister was speaking at International Solar Alliance (ISA) Innovation and Investment Forum here.

He said that once the generation of solar energy goes up, its prices will come down.

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