UK firm to develop 3GW of solar power in India

UK solar developer Lightsource has signed a £2 billion deal with the Indian government to develop and operate as much as 3GW of solar power capacity within the country over the next five years.

The deal is part of a raft of energy and climate agreements worth an estimates £3.2 billion made between UK the India during the state visit of India Prime Minister Narendra Modi this week.

The deals include commercial agreements, joint research programmes and initiatives to share technical, scientific, and financial and policy expertise. In addition Government announced a joint venture between the UK Climate Investments and the Green Investment Bank to invest up to £200 million in renewable energy and energy efficiency in India and Africa.

The UK’s Solar Trade Association said the investment demonstrates “the booming international opportunities” which could be achieved if Government retains a strong domestic solar industry.

But the group also warned that “only a handful” of solar companies will be able to take advantage of growing international opportunities following a raft of renewable energy support cuts made by the government this year.

The state visit also marked the completion of negotiations for a Nuclear Cooperation Agreement and a Memorandum of Understanding related to closer civil nuclear collaboration between the UK and India.

Energy Secretary Amber Rudd said the UK and India’s partnership on energy “is going from strength to strength”.

“We share world-class expertise in research and innovation. The UK’s experience in green finance and technology in particular makes us well–placed to work together to promote secure, affordable and sustainable supplies of energy and address climate change,” she said.

She also pledged to work with India to secure a climate deal which helps to limit global warming to below 2 degrees in the upcoming Paris climate talks.