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Strong investor appeal for renewable energy in India

Renewable energy sector likely to attract sea of opportunities; Adani Power, Tata Power top bets Economic Times, By DK Aggarwal , 17 Feb 15 
Renewable energy in India is fast gaining its acceptability and the sector is expected to attract huge investment going forward. Currently, the sector contributes approximately 6.5% of the electricity consumed in the country and the same is likely to go up to 12 per cent in the next few years.

This will have positive impact on the overall economic growth by reducing the growing power deficit which the country is witnessing since the past many years. As per the data by the Central Electricity Authority (CEA), the power deficit of the country made its peak during the first six month of the current fiscal at 4.7 per cent compared to 4.2 per cent in the same period last year.

Meanwhile, the government push to boost manufacturing activities in the country will also auger well for the sector. The government is taking many initiatives to develop green energy, and in this direction it has laid down the ambitious plan for installing 1,00,000 MW of solar power capacity by 2022, which is much higher than its earlier target of 20,000 MW.Power, coal and renewable energy minister Piyush Goyal has also initiated discussion with 7-8 states where there is a lot of solar energy potential for setting up solar power plants. And to bring justice to the land owners, the government is also considering of making them the stakeholders in the solar power projects.

To attract investment in the sector, the Ministry of New and Renewable Energy is organising Renewable Energy Global Investors Meet & Expo (RE-Invest) from 15-17 February 2015 in New Delhi.
Already the sector is expected to attract $200 billion from both domestic and international firms, which are queuing up to cash the benefit of green energy. Major private players like Tata powerBSE -0.36 % and Adani EnterprisesBSE -1.32 % have been aggressive in expanding their green energy power capacity ….

February 18, 2015 - Posted by | general

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