India Received $3.2 Bn of FDI in Renewable energy in Last Three Years

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.

India has received Foreign Direct Investment worth $3,217 million in the renewable energy sector over the last three years from April 2015 to June 2018.

According to data from the FDI cell of the Department of Industrial Policy and Promotion (DIPP), an arm of the commerce ministry, year-wise inflows rose from $776 million in 2015-16 to $a783 million in 2016-17 and further to $1,204 million in 2017-18,

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,” he said.

The minister also mentioned the steps taken by the Government to support the renewable energy sector, inter-alia, include: fiscal and promotional incentives such as capital subsidy, accelerated depreciation, waiver of Inter State Transmission System (ISTS) charges and losses, viability gap funding (VGF) and permitting Foreign Direct Investment up to 100 per cent under the automatic route.

He further said that India had the world’s fourth largest base of renewable energy generation capacity at the end of 2017.