A Boost in India’s Renewable Energy Sector

Renewable energy has received a total investment of USD 70 billion (about Rs 5.2 lakh crore) in the last seven years across the country, according to Power Minister R K Singh. Given India’s ambitious aim of 175 gigawatts (GW) of renewable energy by 2022, this is significant.

Yesterday evening, Singh spoke at an event organised by the Ministry of New and Renewable Energy on ‘Accelerating Citizen Centric Energy Transition’ (MNRE). It was organised in partnership with India’s Permanent Mission to the United Nations (PMI) and the Council on Energy, Environment, and Water (CEEW).

The virtual event was held on the fringes of the Ministerial Thematic Forums week (June 21-25) in preparation for the United Nations High Level Dialogue on Energy, which will take place on September 20. One of the five themes during the discussion was Energy Transition, and India was named a Global Champion for it.

According to Singh, “Over USD 70 billion has been invested in renewable energy in India over the last seven years. For renewables, India has a generous foreign investment policy, enabling 100 percent FDI through the automatic method.”