India receives FDIs worth $1.77 billion in clean energy in over two years

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Government said India received $ 1.77 billion foreign direct investment (FDI) in clean energy sector from April 2014 to September 2016.

Clean energy

According to PTI, the Commerce and Industry Ministry has said in a statement that total FDI equity inflow in the non-conventional energy sector during April 2014 to September 2016 was $ 1.77 billion.

According to the statement, 100 per cent FDI is allowed under automatic route for projects of renewable power generation and distribution subject to provisions of the Electricity Act, 2003.

It further said that UN environment Program’s (UNEP) ‘Global Trends in Renewable Energy Investment 2016’ report ranks India among the top 10 countries in the world investing in renewable energy.

As on October 31, 2016, cumulative capacity of 46.33 GW grid interactive renewable energy capacity has been installed in the country, which constitutes 15 per cent of the total installed power generation capacity of 307.69 GW, it said.

The statement added that 3,575 MW capacity has been added from various renewable energy sources as on October 31, 2016 for 2016-17.

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