REASONS TO INVEST IN INDIA
- Economic growth, increasing prosperity, a growing rate of urbanization and rising per capita energy consumption is contributing to increasing demand for energy in India.
- India is implementing the largest Renewable Energy (RE) expansion program in the world envisaging a 5-fold increase in the overall RE capacity in the country from 32 GW in 2014 to 175
GW by 2022, and further to 500 GW of renewable power in the country by 2030.
- The National Solar Mission was launched in 2010. The objective of the mission is to establish India as a global leader in solar energy. The target of the National Solar Mission has been up-scaled to 100 GW from 20 GW of grid-connected solar power by 2022.
- India has a wind potential of more than 300 GW (at hub height 100 meters), the solar potential of ~750 GW, assuming 3% wasteland is made available, Small Hydro potential of ~ 20 GW, and Bio-energy potential of 25 GW.
- Emission reduction of 28% over 2005 levels, against the target of 35% by 2030 already achieved by India.
- Revised Guidelines of Ministry of Power and New & Renewable Energy will enable the replacement of fossil fuel based energy by renewable energy under the existing PPAs. As the cost of renewable energy is less than the cost of Thermal energy, the gains from the bundling of renewable energy with thermal will be shared between the generator and Distribution companies/other
procurers on a 50:50 basis.
- Ministry of Power and New & Renewable Energy have issued revised guidelines providing for thermal generation companies to set up renewable energy generation capacity either by themselves through developers by open bids and supplying it to the consumers under the existing PPAs.
- Ministry of New and Renewable Energy (MNRE) issues an issuance of a Concessional Custom Duty Certificate (CCDCs) for setting up projects for the generation of Compressed biogas using Urban and Industrial Waste of Renewable Nature.