Indian RE sector received US$ 6.1 billion from April ‘20 to September ‘23

India’s renewable energy sector has seen an infusion of US$ 6.1 billion in Foreign Direct Investment (FDI) from April 2020 to September 2023, as stated in a written response by Union Minister for New & Renewable Energy and Power, R K Singh, in the Rajya Sabha.

According to Singh, the \DPIIT has information indicating a total FDI Equity of US$ 6,137.39 million in the renewable energy sector during the past three financial years and the current financial year (till 30.09.2023).

Singh underscored that, under the existing FDI policy, investments in the renewable energy sector are allowed up to 100% through the automatic route. The Indian government has introduced various initiatives to encourage domestic and foreign investment in this sector. These initiatives include establishing a Project Development Cell to facilitate investment, creating Ultra Mega Renewable Energy Parks, and implementing new transmission lines under the Green Energy Corridor Scheme.

In addition to these infrastructural developments, the government has launched several schemes such as Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan (PM-KUSUM), Solar Rooftop Phase-II, and the 1200 MW CPSU Scheme Phase II. The National Green Hydrogen Mission aims to position India as a leader in producing and exporting green hydrogen.

Supporting these efforts are the Green Energy Open Access Rules 2022, the Green Term Ahead Market (GTAM) introduction, and the release of Standard Bidding Guidelines for solar PV and wind projects. The government has also waived Inter-State Transmission System (ISTS) charges for solar and wind power projects commissioned by June 30, 2025, and introduced standards for solar photovoltaic systems and devices.

Source: Economic Times