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Big Investment of $1.77 billion Flowed as FDI in India’s Renewable Energy sector: Report
India witnessed a total of $1.77 billion equity investment in the form of foreign direct investment (FDI) in the non-conventional renewable energy (RE) sector between April 2014 and September 2016, the Modi government said in an “Achievement Report” of its flagship Make in India initiative.
As per the data available, a majority of the bigger investments have come from Mauritius, Malaysia, Philippines, Singapore, Japan, Germany, Spain, US and Seychelles. Under automatic route for projects of renewable power generation and distribution, 100 per cent FDI is allowed subject to provisions of the Electricity Act, 2003.
According to the report, the renewable energy sector has witnessed the highest-ever solar power and wind power capacity addition since April 2014.
In the last two years, the world’s largest 648-Megawatt solar power plant was commissioned in Tamil Nadu, a 157 per cent increase in solar power capacity addition was achieved, highest ever wind power capacity addition of 3,300 MW was carried out in 2015-16 and 34 solar parks of aggregate capacity of 20,000 MW were sanctioned for 21 states, the report said.
The report also added Rs 356.63 crore were released to Solar Energy Corporation of India for projects and over 31,000 solar water pumps were installed in 2015-16 and 501 MW grid connected solar rooftop projects have been installed in the country. Jake Elliott Authentic Jersey
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