New Delhi, Mar 11 (KNN) The renewable energy sector has attractedforeign direct investment (FDI) worthRs 1.756 billionduring the last four years.
“There has been Foreign Direct Investment (FDI) inflow to the tune of Rs.8569 crore (USD 1.756 bn) in the renewable energy sector during the last three years and the current year as on Dec 31 last year,” said the Minister for New and Renewable Energy,Farooq Abdullah in the LokSabha recently.

"100 per cent FDI through automatic route is available to investors of Renewable Energy Projects. The government offers fiscal and monetary incentives to renewable energy developers to promote investment," added Abdullah.

In June 2012, the Ministry had organized an investment promotion meet at London, with a view to seek investments for the setting up of renewable energy power projects in the country.

"The Government also has a policy to encourage transfer of foreign technologies, including those in renewable energy sector," Abdullah said.

Notable, FDI upto 100% under the automatic route is permitted in Renewable Energy Generation and Distribution projects subject to the provisions of the Electricity Act, 2003.(KNN/SK)