Net Zero Summit

MNRE forms project development cell to attract investment in green energy

The Ministry of New and Renewable Energy (MNRE) has constituted a project development cell to attract investment in the clean energy sector, particularly solar.

The project development cell (PDC) would offer those renewable projects for investment where all necessary spade work like detailed project report, land, etc is complete.

The PDC has been constituted under Amitesh Kumar Sinha, Joint Secretary, MNRE, the ministry said in its order issued on June 17.

“He (Sinha )shall be assisted by Ruchin Gupta, Director, MNRE, other officers of the Grid Solar Power Division and representatives of Invest India,” the order said.

MNRE has also asked the Department for Promotion of Industry and Internal Trade (DPIIT) to nominate its representatives from Invest India to participate in the working of this cell.

Besides, MNRE is developing a portal to receive proposals from the renewable energy sector, with provisions to check the status of action taken on such proposals.

Earlier, the Centre had approved setting up of an Empowered Group of Secretaries and PDCs in ministries/departments of the government for attracting investments by development of investible projects in coordination with the Centre and states.

The objective of PDCs is to offer projects with all approvals, land available for allocation and with the complete Detailed Project Reports for adoption or investment by investors.

PDCs are also mandated to identify issues that need to be resolved in order to attract and finalise the investments and put forth these before the Empowered Group.

MNRE has set up PDC under it in pursuance of the decision of the central government.

Setting up of PDC under MNRE is significant in view of India’s ambitious target of having 175GW of renewable energy by 2022.

Source: PTI

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