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Government doubles down on solar parks after SunEdison setback

India will double the target for energy to be generated from solar parks by 2020, as roof-top installations progress slower than anticipated and U.S. company SunEdison's projects are threatened by its bankruptcy.

The solar parks are sought after by companies because the Indian government acquires land for the installations and sets up transmission lines, major attractions in a country notorious for red tape and public opposition to land transfers.

Debt-heavy SunEdison was one of the first companies to be drawn into the programme to encourage solar use, bidding aggressively to win a 500 megawatt (MW) project in Andhra Pradesh state in India's south last November. 

But after its bankruptcy, SunEdison has been forced to initiate stake-sale talks with companies like Adani Group and Finland's Fortum Oyj for funds.

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