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Indian govt incentives spur solar industry

23 June 2008 | Power Generation: News From Around The Web | Source: eetindia.co.in
Although the question still hangs on a semiconductor-manufacturing plant in India, it's a different story when it comes to indigenous solar-cell manufacturing. The Indian government has announced incentives for manufacturing solar cells and panels earlier this year and has targeted meeting 10 per cent of the country's power needs through renewable energy by 2012.

Given the frequent power outages throughout the country, the announcement has spurred a flurry of announcements by companies looking to join the nascent solar industry here.

Signet Solar chairman Prabhu Goel has announced the most ambitious plans - an investment of Rs.8,173.33 crore ($2 billion) over 10 years to set up three plants in India. Signet operates a plant in Germany and expects to leverage that experience to ramp production here. 

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