Govt plans to import technology to boost investment in renewable energy

While about $ 6.1 billion has been invested in renewable energy in India, China has received investments worth about $ 56.3 billion during the year 2013-14.

Photo: Energypedia

New Delhi  November 28, 2014: In order to increase energy generation from renewable resources, the centre is planning to take steps to encourage global companies for investing in this sector. The Government is contemplating to seek international cooperation for importing technology to boost investment in renewable energy sector of the country, said Piyush Goyal, Minister of State for Power, Coal & New and Renewable Energy (Independent Charge), in the Lok Sabha on November 27, 2014.

As per the Global Status Report 2014 of Renewable Energy Policy Network (REN-21), about $ 6.1 billion has been invested in renewable energy in India, whereas China has received investments worth about $ 56.3 billion in renewable energy during the year 2013-14. The investment was mainly for solar and wind power projects, Goyal.

To showcase India’s renewable energy potential globally, the Ministry of New and Renewable Energy (MNRE) is organising the Global Renewable Energy Investment Promotion Meet (RE-INVEST) from 15-17 February, 2015 in New Delhi as a follow up to the ‘Make in India’ initiatives launched by the Prime Minister. “This meet will give an opportunity to all states to showcase their policies to facilitate investment, progressive, initiatives and investor friendly climate to attract investments in renewable energy,” added Goyal.

Courtesy: Business Standard