The World Bank has shown interest in partnering the Indian government for developing the renewable energy sector. The government has an ambitious plan to install at least 40 GW of additional capacity of renewable energy in the next 10 years. A World Bank report on "Unleashing of the potential of renewable energy in India" said that significant financial and regulatory barriers will be required to be addressed to achieve the target.The report also stated that India will not only have to meet ambitious targets set under the National Solar Mission, but also double its wind capacity, quadruple its small hydropower power capacity, fully realise co-generation capacity and increase biomass realisation by a factor of five to six. The report also suggested single window clearance for all renewable projects, promoting innovative approaches, a competitive bidding process, and providing long-term funding options for producers. Projects are held back because of the large number of clearances that are required during the development cycle.
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