India received $3.2 billion FDI in renewable energy sector over past three years

New Delhi: India received Foreign Direct Investment worth $3,217 million in the renewable energy sector during the past over three years between April 2015 and June 2018.

The year-wise inflows rose from $776 million in 2015-16 to $783 million in 2016-17 and further to $1,204 million in 2017-18, according to fresh data from the FDI cell of the Department of Industrial Policy and Promotion (DIPP), an arm of the commerce ministry.

In the first three months of the current financial year (2018-19), Rs 452 crore of FDI had already flown in, power minister R K Singh said in a written reply in Parliament. He also said the total renewable energy generation in the country between April and November 2018 stood at 81 billion units. 

“As on 30 November 2018, a total (renewable energy generation) capacity of around 73.95 Gigawatt has been installed in the country, of which 37.84 GW has been added during the last four and half year,” said.

In order to promote the green energy sector, the government is providing fiscal and promotional incentives including capital subsidy, accelerated depreciation, waiver of Inter State Transmission charges and losses, viability gap funding (VGF) and FDI up to 100 per cent under the automatic route.

The minister also informed India had the world’s fourth largest base of renewable energy generation capacity at the end of 2017.

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