Govt says $1.77 billion fdi equity came into indian renewable sector between apr 14 to sep 16, Energy News, ET EnergyWorld

India witnessed a total of $1.77 billion equity investment in the form of foreign direct investment (FDI) in the non-conventional energy sector between April 2014 and September 2016, the Modi government said in an “Achievement Report” of its flagship Make in India initiative.

As per the data available, a majority of the bigger investments have come from Mauritius, Malaysia, Philippines, Singapore, Japan, Germany, Spain, US and Seychelles. Under automatic route for projects of renewable power generation and distribution, 100 per cent FDI is allowed subject to provisions of the Electricity Act, 2003.

The government has revised its target of renewable energy capacity to 175 Gigawatt by end of 2022, making it the largest expansion plan in the world, providing plenty of opportunities for investors.

The UN Environment Program’s “Global Trends in Renewable Energy Investment 2016” report ranks India among the top ten countries in the world investing in renewable energy. Read more…