The inclusion of renewable energy projects in the priority sector lending has improved the ease of doing business and securing finance for clean energy projects, a finance ministry official said today.
“To meet the country’s renewable energy requirements, the government has also introduced competitive bidding mechanisms, which have in turn driven the prices of tools and technologies significantly,” Rajasree Ray, an Economic Advisor at the Department of Economic Affairs, an arm of the Ministry of Finance, said at an industry event.
Also present on the occasion was Anand Kumar, Chairman, Gujarat Electricity Regulatory Commission who said the state’s capacity will see a substantial rise now that the government has committed to adding around 2,000 megawatts each year, thereby reaching a capacity of up to 10,000 megawatts by 2022. “Gujarat already has a massive capacity of over 8,000 Megawatt (Mw), which includes 7,000 Mw from wind and more than 1,500 Mw from solar,” he said. Read More