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Electricity generation from renewables has surged

Updated: Mar 12, 2013 01:23:19pm
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New Delhi, Mar 12 (KNN)Indiahas witnessed a boom in electricity generation from renewable energy sources thanks to various initiatives taken by the government.
“As per the report published by the Central Electricity Authority (CEA), 36947 million units, 41150 million units and 51226 million units were generated during 2009-10, 2010-11 and 2011-12 respectively, from renewable energy sources,” said Minister for New and Renewable Energy (MNRE),Farooq Abdullah, in the LokSabha recently.
Further, during 2012-13, about 23,557 million units from April to August have been generated from renewable energy sources in the country,” he added.
The Minister explained that various renewable energy sources were installed in the country,capable of generating renewable power of about 27,000 MW.  “A capacity of 12,437 MW from renewable energy projects have been added during the last 3 years from 2009-10 to 2011-12 and current year as on 31.01.2013,” he said.
Currently, MNRE is implementing a number of renewable energy schemes and programmes such as wind, small hydro, biomass and solar throughout the country, to enhance power generation from renewable energy sources.
In addition, the Government is providing various fiscal and financial incentives, such as capital and interest subsidy, accelerated depreciation, concessional excise and customs duties to promote power generation from new and renewable energy sources.
Steps taken to promote power generation from alternative sources of energy include preferential tariff for purchase of power generated from renewable sources, introduction of Renewable Energy Certificates and Renewable Purchase Obligation.

The official statement also provided details of the Integrated Energy Policy (IEP) that the Government has formulated, covering all sources of energy including renewable energy sources. The IEP document gives a roadmap to develop energy supply options and increase exploitation of renewable energy sources.  MNRE is targeting a capacity addition of 30,000 MW during the 12th Plan period (2012-17) from various renewable energy sources.
Evidently, the renewable energy sectorhas attractedforeign direct investment.“There has been Foreign Direct Investment (FDI) inflow to the tune of Rs8569 crore (USD 1.756 bn) in the renewable energy sector during the last three years and current year as on Dec 31 last year,” Abdullah said.
Currently, 100 per cent FDI through automatic route is available to investors of Renewable Energy Projects.  Besides, the government offers fiscal and monetary incentives to renewable energy developers to promote investment.
MNREin June 2012 organized an Investment Promotion meet in London, with a view to seek investment for the setting up of renewable energy power projects in the country. (KNN/SK)
 

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