Question : Promotion of Renewable Energy

a. the details of the policy of the Government to promote renewable energy in the country;

b. the State-wise details of the investment made in new and renewable energy sector in the country including Jharkhand during each of the last three years and the current year;

c. whether the Government has taken any steps to promote the said sector including the solar energy sector in the country including Andhra Pradesh;

d. if so, the State-wise details thereof;

e. whether the Government proposes to encourage commercial banks for private funding to the said sector; and

f. if so, the details thereof?

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

(a): The details of policy initiatives taken by the Government for the development of renewable energy in the country which inter-alia include incentives in the form of generation based incentives/subsidies, viability gap funding from National Clean Energy fund (NCEF), fiscal incentives such as accelerated depreciation, concessional customs duty, excise duty exemptions, income tax holiday for 10 years and preferential tariff for renewable energy power projects financing through NCEF as per its norms, increasing the authorized capital of Indian Renewable Energy Development Agency(IREDA) and extending new lines of credit to enable it to enhance its concessional loan to RE projects, mobilizing project based concessional loans through multi-lateral and bi-lateral agencies i.e. World Bank, Asian Development Bank, KfW - Germany; inclusion of Renewable Energy Projects in Priority Sector Lending of Banks; and approval for issuance of tax free infrastructure bonds for funding renewable energy projects.
(b): The State/UT-wise details of central financial assistance provided for the development of various renewable energy programmes during the last three years (2013-14, 2014-15 and 2015-16) and current year are given in the statement enclosed as Annexure-I.
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(c) & (d): The Ministry of New & Renewable Energy (MNRE) is implementing its programmes in all the states of the country including the state of Andhra Pradesh. The steps initiated by the Government to promote new and renewable energy sector including Solar Energy in all the states of the country include up-scaling the target of renewable energy capacity to 175 GW by 2022, suitable amendments to the Electricity Act and Tariff Policy for strong enforcement of Renewable Purchase Obligation (RPO) and for providing Renewable Generation Obligation (RGO); setting up of exclusive solar parks; development of power transmission network through Green Energy Corridor project; identification of large government complexes/ buildings for Rooftop projects; provision of Rooftop Solar and 10 percent renewable energy as mandatory under Mission Statement and Guidelines for development of smart cities; amendments in building bye-laws for mandatory provision of Roof Top Solar for new construction or higher Floor Area Ratio; infrastructure status for solar projects; raising tax free solar bonds; providing long tenor loans; making roof top solar a part of housing loan by banks/ NHB; incorporating measures in Integrated Power Development Scheme (IPDS) for encouraging distribution companies and making net-metering compulsory and raising funds from bilateral and international donors as also the Green Climate Fund to achieve the target.
(e) & (f): Presently, 23 Public Sector & 7 Private Sector Banks and 4 Public Sector & 2 Private Sector Non-Banking Financing Companies (NBFCs) have committed for financing renewable energy projects of 76350 MW capacity with an outlay of Rs. 3,72,240 crore over a 5 year period through green commitment certificates.
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