New Delhi: India will soon call bids to set up a 25,000 mega watt (MW) solar power project in the Ladakh region as part of efforts to make the economy greener, Union power minister R.K. Singh said.

Speaking at a meeting of policy makers and business leaders to work together on finding sustainable development solutions organised by federal policy think tank Niti Aayog here, the minister said the high-altitude Himalayan region has a huge potential for solar power generation. Power from the project will be delivered to Una in Himachal Pradesh, the minister said.

India on Wednesday took a decisive step towards accelerating investments into the green economy with Niti Aayog roping in industrial houses to find technology and business opportunities that will serve India’s rapid urbanisation.

Niti Aayog, which has the task of overseeing India’s efforts towards sustainable development goals agreed with industry chamber Confederation of Indian Industry (CII) to find ways of saving water and cutting down carbon emissions that could also be exported to other economies facing rapid urbanisation.

Niti Aayog chief executive officer Amitabh Kant, who was present on the occasion, said that the ownership of technology resulting from the joint effort has to rest with the private sector. “Government will be a facilitator in this mission. We look forward to vigorously taking this forward," said Kant.

Kant said that unlike the West which urbanised using low cost energy, India does not have the luxury of cheap fuel. Kant made a strong case for electric and hydrogen fuelled cars and said that the local solutions found by Indian businesses will have a global application. “We make a local solution and it will have a market of over seven billion people in the world who move from poverty to middle class," said Kant.

India is making efforts to vigorously pursue cleaner energy and sustainable development goals.

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