NEW DELHI: Proposals such as creation of a national infrastructure investment fund and doubling of coal cess in the Union Budget have buoyed the renewable energy industry, which believes these steps could help solve financing challenges, thereby boosting clean energy projects.
“…as environmental degradation hurts the poor more than others, we are committed to make our development process as green as possible,” Finance Minister Arun Jaitley said during his Budget speech.
He emphasised on achieving the 1,75,000-megawatt target set for clean energy installations by 2022. This would comprise 1,00,000 MW of solar power, 60,000 MW of wind power, 10,000 MW of energy from biomass and 5,000 MW from small hydroelectric projects. Currently, India’s clean energy capacity is 33,000 MW.
Jaitley envisioned providing electricity by 2020 to the remaining 20,000 villages that still don’t have access to electricity, including through off–grid solar power.
Although there weren’t any sector-specific sops, industry players do not consider it as a major concern.
“The national investment and infrastructure fund will prove to be a game-changer for the renewable energy sector,” said Vineet Mittal, co-founder and managing director of Welspun Energy. “It is also good to allow foreign investments in alternative investment funds.”
The Budget proposed creation of a national investment and infrastructure fund and finding monies ..
Source : ET
Rohit Reddy Hyderabad 