Is India Ready to Be a Solar Power Leader?

By RUPA SUBRAMANYA for  Is India ripe for a renewable energy revolution? Foreign investors certainly seem to think so, and renewables have been a signature issue for Prime Minister Narendra Modi. But if revolution is indeed underway, it isn’t a spontaneous one. And taxpayer money — not just from India — is fueling the surge.

New Delhi’s renewable energy aspirations recently received a major boost when Japan’s SoftBank announced a joint venture with Indian conglomerate Bharti Enterprises and Taiwan’s Foxconn Technology Group to create a new, Japanese-owned company that will bid on power contracts in India’s growing solar sector. Renewable energy, including solar, is a priority for Modi and has been since before he became the country’s leader last year. “The time has arrived for a saffron revolution, and the color of energy is saffron,” he saidon the campaign trail in 2014, attempting to symbolically link the sacred color of Hindus and his Bharatiya Janata Party with his energy dream. This joint venture is the first major announcement by a foreign investor that could help make that dream a reality.  Cont'd...

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