FDI inflows worth $1.77 bn in non-conventional energy sector from Apr 2014 to Sept 2016
Minister of Commerce and Industry Nirmala Sitharaman said in a statement that total FDI equity inflows in the non-conventional energy sector from April 2014 to September 2016 was $1.77 billion. According to the given statement, 100 percent FDI is allowed for the renewable power generation projects and furthermore distributed subject to provisions of the Electricity Act, 2003.
Indian government has revised renewable energy capacity target to 175GW by the end of 2022, making it the largest expansion in the world, also to provide plenty of opportunities to investors. UN Environment programme’s - Global trends in Renewable Energy Investment 2016 report ranks India among the top 10 countries in the world investing in renewable energy.
The highest ever solar and wind power capacity has been noticed by the New & Renewable sector for the past two years since April 2014. 46.33GW grid-interactive renewable energy of accumulative capacity has been installed in India, which constitutes 15% to the total installed capacity of 307.60GW power generation as per statement on October 31, 2016. Also, the statement specified that capacity of 3575 MW has been added from various renewable energy sources for the year 2016-17.