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India invites investment from ASEAN in renewable energy sector

According to reports, aiming to scale up production of renewable energy in the country, India today invited investors from ASEAN countries to invest in the sector.

“India is encouraging foreign investors to set up renewable power projects on ‘build own operate’ basis with 100 per cent foreign direct investment and the county invited the investors from the ASEAN member countries to invest in renewable energy sector,” New and Renewable Energy secretary Gireesh Pradhan said.

Inaugurating a two-day ‘ASEAN-India Workshop on Cooperation in Renewable Energy’, he said at present renewable power with over 26,000 MW installed capacity represents about 12.5 per cent of the total installed power generation capacity in India and the aim is to achieve about 55,000 MW of renewable power by 2017.

Under the Prime Minister’s national action plan on climate change, he said the Ministry has launched the Jawaharlal Nehru National Solar Mission. Under this mission, 1,000 MW of solar power capacity in the country has been added.

“Our aim for 2022 includes 20,000 MW of grid connected, 2,000 MW of off-grid solar power and connecting over 20 million rural households with solar home lighting,” he said.

The two-day workshop has been organised as a precursor to the meeting of the Ministers of Renewable Energy of ASEAN countries and India scheduled on November 7.

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