India Gained $3.2 Billion of FDI in Renewable energy sector in 2015-18 : R.K Singh

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

As per the 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 $783 million in 2016-17 and further to $1,204 million in 2017-18,

In the initial three months of the existing financial year (2018-19), Rs 452 crore of FDI had by now flown in, power minister R K Singh said in a written reply in Parliament.

He also added that the total renewable energy generation in the country between April and November 2018 positioned at 81 billion units.

“As on 30 November 2018, a total (renewable energy generation) capacity of approximately 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 cited the steps taken by the Government to sustain the renewable energy sector, inter-alia, consist of: 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.