Indian Prime Minister Narendra Modi unveiled a visionary scheme on Monday (Jan 22) aimed at installing rooftop solar systems in 10 million homes across the nation. Making the announcement on the auspicious occasion of the consecration in Ayodhya, PM Modi expressed his resolve to empower Indian households with their own solar rooftop systems.
“On this special day in Ayodhya, I am strengthened in my belief that the people of India should have their own solar rooftop system on their houses,” Modi declared. He shared the news of the ‘Pradhanmantri Suryodaya Yojana,’ emphasizing the government’s commitment to installing rooftop solar on one crore houses.
PM Modi, who led rituals at the Pran Pratishtha ceremony in the sanctum sanctorum of the Shri Ram Janmabhoomi Mandir earlier in the day, highlighted the scheme’s dual benefits. “This initiative will not only reduce the electricity bills of the poor and middle class but will also contribute to making India self-reliant in the energy sector,” he affirmed.
The Prime Minister, who discussed the scheme with officials and shared images of the meeting, revealed that more details about the initiative would be disclosed soon. The Pradhanmantri Suryodaya Yojana aims to provide electricity to low and middle-income households through solar rooftop installations while creating opportunities for additional income through surplus electricity generation.
In the wake of this announcement, several stocks saw an upward surge in the market, with TATAPOWER, ADANIGREEN, WEBELSOLAR, SWSOLAR, SURANASOL, and Borosil Renewable registering significant gains, reflecting the positive investor sentiment towards the solar initiative.
01. TATAPOWER – surging nearly 3% higher
02. ADANIGREEN – surging nearly 2%
03. WEBELSOLAR – surging at 10% higher
04. SWSOLAR – surging at 5% higher
05. SURANASOL – surging at 5% higher
06.Borosil Renewable – surging at 15% higher