MNRE Inaugurates “Industry and Investors’ Facilitation Centre”

The Ministry for New and Renewable Energy (MNRE) has announced that it has inaugurated an “Industry and Investors’ Facilitation Centre” as a new wing of the ministry, to resolve concerns of investors in this sector.

The centre will be headed by Amitesh Kumar Sinha, a Joint Secretary of MNRE. The centre will “catalyze and boost investor confidence and safeguard timely completion of projects in the sector,” according to the ministry. A devoted portal for this task will be set up soon.

It will also function as a focal point that provides information on policies and initiatives of the government, the ministry said.

“The Facilitation Centre will work as a fast track mechanism in resolving the investors’ issues and taking the Ease of Doing Business (EODB) to a notch higher,” said R. K. Singh, Minister of Power and New & Renewable Energy.

Singh also said the MNRE is committed to increase the share of renewable energy to 40 per cent of the total power generation capacity in India by 2030, in order to fight any challenges arising from climate change.

86 GW capacity of renewable energy generation has already been installed in the country, with another 34 GW under implementation. 30 GW is under various stages of tendering.

Singh said that the ministry is working towards achieving a better EODB ranking. Currently, India’s renewable capacity-building has largely been supported by private players, with about $100 billion in investments. Another $14 billion worth of investment is in the pipelines, but the government estimates nearly $65 million more in this sector.