In a bid to meet India’s energy target of 175 Gigawatt (GW) renewable energy, an investment of Rs 4 lakh crore has been estimated by the Government of India over a period of next three years.
RK Singh, Power and Renewable Energy Minister said during a Rajya Sabha session, “A cumulative renewable energy capacity of 83.38 GW has already been installed in the country up to October, 2019. To achieve the balance target of 91.62 GW, an investment of about Rs 4,14,581 crore has been estimated as capital cost.”
Singh also stated that a non-banking financial institute under the Ministry of Renewable Energy (MNRE) will be financing these projects.
The institute will raise the resource from internal and external sources such as bilateral and multilateral agencies, raising masala bonds from international and domestic market, and by borrowing from banks or financial institutes. Read More