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Global investor meet to attract investments in renewable energy sector

According to reports, the Ministry of New and Renewable Energy (MNRE) plans to host a global investor meet in November to attract foreign investment, said Upendra Tripathy, Secretary.

“We have seen in the past that global investor meets held by Gujarat and Karnataka have been very successful which is why we are planning a similar meet for the renewable energy sector in India,” said Tripathy. “The meet is being organised by the Indian Renewable Energy Development Agency (IREDA) and will have the full support of the Ministry,” he said.

Tripathy was speaking at a workshop on regulatory and financial challenges for power generation from biomass. He said power generated from biomass has a much larger potential to be available across States unlike solar and wind power, which is restricted to certain pockets of the country.

“There is an installed capacity of 4,700 MW of biomass-based power in the country,” said Tripathy. “Biomass energy can play a big role as there are many areas where conventional energy is not available.”

However, Tripathy urged the State Electricity Regulatory Commission (SERC) to take cognizance of the revised regulations notified recently by the Central Electricity Regulatory Commission and pass on the benefits to biomass power producers so that their plants can be run economically. CERC had approved values of critical parameters and recommended annual revision of fuel price based on independent surveys in an order passed on May 15, 2014.

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