With an aim to further strengthen the ‘Ease of Doing Business’ in the country, the Ministry of New and Renewable Energy (MNRE) has opened a new wing as an “Industry and Investors’ Facilitation Centre” in the Ministry.
This centre will work as a focal point to provide correct and timely information related to policies and programmes of the government. It will also take care of resolving the issues of the renewable energy (RE) investors and industry in the country, the ministry said.
The Centre will be headed by Amitesh Kumar Sinha, Joint Secretary of MNRE, and it “will catalyse and boost investor confidence and ensure timely completion of the projects in the sector. Soon, a dedicated portal will be developed for the purpose,” the ministry added.
Commenting on the opening of this facilitation centre, R K Singh, Minister of Power and New & Renewable Energy said that “the Facilitation Centre will work as a fast track mechanism in resolving the investors’ issues and taking the Ease of Doing Business (EODB) to a notch higher.”
Singh further said that his Ministry is constantly working on greater Ease of Doing Business (EODB). The Ministry has strengthened Power Purchase Agreements (PPAs) and Letter of Credit measures for payment security mechanism.
“We are committed to increase our share of RE to 40 percent of our total power generation capacity by 2030 to mark India’s significant contribution towards mitigating climate change challenges. This centre will play an important role to achieve this goal,” Singh added.
Further, referring to the efforts for enhancing RE capacity, the Minister said that 86 GW capacity has already been installed, 34 GW is under implementation while 30 GW is at various stages of tendering.
He also added that, the Ministry is setting up Ultra Mega RE Power Projects for providing land and transmission on plug and play basis.
On the state of investment in the sector, the ministry said that, India’s renewable energy journey has been largely supported by private investment. Till date it has attracted about USD 100 billion investment and USD 14 billion is in the process.
Meanwhile, India further, requires about USD 65 billion more investment in the renewable energy sector.