FDI in India's Renewable Energy Sector Crosses $6.1 Billion Mark: R K Singh

New Delhi, Dec 20 (KNN) India's renewable energy sector has attracted Foreign Direct Investment (FDI) totalling USD 6.1 billion between April 2020 and September 2023, highlighted Union Minister for New & Renewable Energy and Power, R K Singh on Tuesday.

"As per information available with the Department for Promotion of Industry and Internal Trade (DPIIT), the country has received a total FDI Equity investment amounting to USD 6,137.39 Million in the renewable energy sector, during the last three financial years and the current financial year (till 30.09.2023)," the minister said in a written response to a question in Rajya Sabha.

Singh underscored the current FDI policy, allowing investments in the renewable energy sector up to 100 per cent through the automatic route.

To foster foreign investment, he added, the Indian government has introduced various measures, including the establishment of a Project Development Cell, the creation of Ultra Mega Renewable Energy Parks, and the implementation of new transmission lines under the Green Energy Corridor Scheme.

The Minister emphasised on complementary key government schemes, along with infrastructure advancements such as Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM), Solar Rooftop Phase-II, and the 1200 MW CPSU Scheme Phase II.

Additionally, the National Green Hydrogen Mission aims to position India as a global leader in the production and export of green hydrogen, Singh stated.

The government has further strengthened these initiatives with the introduction of the Green Energy Open Access Rules 2022, the launch of the Green Term Ahead Market (GTAM), and the issuance of Standard Bidding Guidelines for solar PV and wind projects.

Notably, the government has waived Inter-State Transmission System (ISTS) charges for solar and wind power projects commissioned by June 30, 2025, and established standards for solar photovoltaic systems and devices.

(KNN Bureau)