Question : India as a Hub for Renewable Energy Investment

a) whether the Government plans to make India a hub for renewable energy investment;
b) if so, the details thereof;
c) the investment made in the renewable energy sector under ‘Make in India’ initiative, State and sector -wise;
d) the details of incentives offered by the Government for manufacturing of renewable energy equipments in the country; and
e) the current position of India in terms of export of energy equipments and the steps taken by the Government to develop India as a renewable energy equipments manufacturing and export hub?

MINISTER OF STATE FOR POWER, COAL , NEW & RENEWABLE ENERGY & MINES (SHRI PIYUSH GOYAL)

(a)&b): Ministry of New and Renewable Energy has estimated an investment opportunity of about Rs. 9. 0 lakh crores both in manufacturing and project development in next 5 years for achieving the enhanced capacity addition target of 175 GW in the renewable energy sector.

(c): During REINVEST Meet & Expo 2015, 16 Pvt. Sector Companies had given commitment for setting up manufacturing facilities in the country to manufacture Solar Photovoltaic (SPV) Modules / Wind Machines with cumulative manufacturing capacity of 62,100 MW annually. A list of companies who had given the commitment is given at Annexure – I.

(d): The Government is supporting manufacturing sector through fiscal and promotional incentives such as tax holiday on the earnings for 10 years, concessional excise and custom duties, preferential tariff for power generation from renewables to encourage the manufacturing sector. This apart, the Government has been supporting solar manufacturing through a scheme namely Modified Special Incentive Package Scheme (M-SIPS) of Department of Electronics & Information Technology.

(e): As per information of Ministry of Commerce, India had exported solar cell/modules and Wind Power Machines of Rs. 1177. 59 Crore during the year 2015-16.
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