New Delhi: India's renewable energy sector has attracted Foreign Direct Investment (FDI) of S6.1 billion from April 2020 to September 2023, Union minister for new & renewable energy and power R K Singh said in a written response to a question in the Rajya Sabha.
"As per information available with the Department for Promotion of Industry' and Internal Trade (DPIIT), the country has received a total FDI Equity investment amounting to USD 6,137.39 Million in the renewable energy' sector, during the last three financial years and the current financial year (till 30.09.2023)," the minister said in a statement.
Singh highlighted that under the current FDI policy, renewable energy' sector investments are permitted up to 100% through the automatic route. The Indian government has implemented various initiatives to encourage both domestic and foreign investment in this sector. These initiatives include setting up a Project Development Cell to facilitate investment, establishing Ultra Mega Renewable Energy' Parks, and implementing new transmission lines under the Green Energy Corridor Scheme.
In addition to these infrastructural developments, the government has launched several schemes such as Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM), Solar Rooftop Phase-II, and the 1200 MW CPSU Scheme Phase II. The National Green Hydrogen Mission aims to position India as a leader in the production and export of green hydrogen.
Further supporting these efforts are the Green Energy Open Access Rules 2022, the introduction of the Green Term Ahead Market (GTAM), and the release of Standard Bidding Guidelines for solar PV and wind projects. The government has also waived Inter-State Transmission System (ISTS) charges for solar and wind power projects commissioned by June 30,2025, and introduced standards for solar photovoltaic systems and devices.
By Saurav Anand
https://energy.economictimes.indiatimes.com/news/renewable/india-attracts-6-1-billion-fdi-in-renewable-sector-boosting-green-power-drive/106138553
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