Union Minister for Road Transport and Micro, Small and Medium Enterprises (MSME) Nitin Gadkari on Tuesday urged MSMEs participation is important for India to achieve India’s Renewable Energy Targets of 175 GW by 2022.
Gadkari in a tweet said, “#MSME participation is critical for India achieving Renewable Energy #RE targets of 175
GW by 2022.”
He was addressing a webinar on ‘Accelerating Adoption of Solar Rooftop by MSME Sector’ where he said that the operational cost of MSMEs can be reduced if they use Rooftop Solar Installations as the electricity cost comprise up to 20% of their operating expenses.
He also explained how the ministry is working with the World Bank on a credit guarantee programme to make financing accessible to unrated MSMEs.
Currently the rooftop solar installations are significantly low among MSMEs at 800 MW, further speaking on this Gadkari said that the government has also partnered with State Bank of India (SBI), World Bank and the Ministry of New and Renewable Energy.
Junai Kamal Ahmad, Country Director of World Bank India said that MSMEs form a critical platform for Atma Nirbhar India to leverage the global value chain in both goods and service sectors.
He also adds that by enabling MSMEs to decarbonise their power consumption in a sustainable manner, India can achieve both greening the economy and making MSMEs highly competitive.