Minister of State (I/C) for New and Renewable Energy and Power R. K Singh replying to a question in the Lok Sabha informed that 3217 Million US$ has been received as FDI in Renewable Energy Sector and renewable energy capacity reached about 74GW as on 30/11/2018.
The FDI data cell of the Department of Industrial Policy and Promotion (DIPP) compiles and maintains the data of Foreign Direct Investment (FDI) Equity inflow received in the country. The FDI equity inflow from April, 2015 to June, 2018 in the Non-Conventional Energy Sector is as under: –
|Sl No||Year||FDI in US$ million|
A total of 81.15 billion units (BU) of power have been generated in the year 2018-19 (up to October 2018) from all renewable energy sources.
The Renewable Energy projects are mostly being implemented in the private sector. As on 30-11- 2018, a total capacity of around 73.95 GW has been installed in the country of which 37.84 GW has been added during the last four and half year.
The steps taken by the Government to support the renewable energy sector, inter-alia, include: fiscal and promotional incentives such as capital subsidy, accelerated depreciation, waiver of Inter State Transmission System (ISTS) charges and losses, viability gap funding (VGF) and permitting Foreign Direct Investment up to 100 per cent under the automatic route.
Also, to ensure cheaper generation of renewable energy, projects are awarded through transparent bidding process i.e. through e- reverse auction. The Government has issued standard bidding guidelines to enable the distribution licensees to procure power at competitive rates in cost effective manner.
As per Global Status Report-2018 of REN21 (Renewable Energy Policy Network for the 21st Century), India ranked 5th in Renewable Power Capacity (including hydropower) and 4th (not including hydropower) as of end 2017.