Union minister Piyush Goyal on Monday said India’s energy demand would quadruple in the next couple of decades and exhorted stakeholders in the power sector to make electricity cheaper for the common man.
The Union power ministry has told the influential goods and services tax (GST) Council chaired by finance minister Arun Jaitley that implementing GST in its current form could push up power generation cost, especially of renewable energy, which will further dent the ability of debt-ridden distribution companies to serve electricity unless specific relief measures are built in.
The Ministry of Power has recommended that renewable energy should be given a zero-rate tax status under the Goods and Services Tax, according to a presentation made by it to the GST Council, predicting several adverse effects to the economy if there is any increase in power tariffs due to the new tax regime.
The renewables space is growing rapidly, Tulsi Tanti, chairman and managing director of Suzlon told BloombergQuint’s Menaka Doshi on the sidelines of the 47th World Economic Forum at Davos.
There is much to celebrate when reviewing the developments witnessed in the renewable energy sector in India in 2016. In 2016 the renewable energy capacity commissioned was higher than thermal capacity addition for the first time.
With an aim to generate more electricity from clean energy sources, chiefly the hydropower sector, Ministry of Power has sought concessions for under-construction hydel projects in the upcoming Union Budget for 2017-18.
In a bid to adopt green technology, the Indian Railways is giving a big push to renewable energy to attain cost efficiency, Minister Suresh Prabhu said on Wednesday.
Government today said India received $ 1.77 billion foreign direct investment (FDI) in non-conventional energy sector from April 2014 to September 2016.
Dubai’s sovereign wealth fund, Investment Corp. of Dubai (ICD) through its subsidiary Dubal Holding Llc is scouting for investments in an Indian renewable energy platform.
a majority of the bigger investments have come from Mauritius, Malaysia, Philippines, Singapore, Japan, Germany, Spain, US and Seychelles. Under automatic route for projects of renewable power generation and distribution, 100 per cent FDI is allowed subject to provisions of the Electricity Act, 2003.
India witnessed a total of $1.77 billion equity investment in the form of foreign direct investment (FDI) in the non-conventional energy sector between April 2014 and September 2016, the Modi government said in an “Achievement Report” of its flagship Make in India initiative.