India has received over US $70 billion renewable energy (RE) investment in the last seven years, said R. K. Singh, Union Minister of State (I/C) Power, New and Renewable Energy, and Minister of State, Skill Development and Entrepreneurship, Government of India.

India has a very liberal foreign investment policy for renewables allowing 100% FDI through the automatic route in the sector, commented Singh. 

In the last 6 years, India’s installed renewable energy capacity has increased by over two and a half times and stands at more than 141 Giga Watts (including large Hydro), which is about 37 per cent of the country’s total capacity (as on 16th June 2021) said R. K. Singh.

"During the same period, the installed solar energy capacity has increased by over 15 times and stands at 41.09 GW. India’s renewable energy capacity is the 4th largest in the world. In fact, our annual renewable energy addition has been exceeding that of coal based thermal power since 2017. The energy transition journey that we have already covered and the scale of the transition which we are set to achieve are both exemplary for the world," added Singh.

Launching a booklet on “The India Story”, a compilation of Indian initiatives that are shaping India’s energy transition, the Minister said, "The booklet captures the essence of some of the flagship initiatives that have accelerated energy transition. These will continue to power our ambitious renewable energy programmes, with the end goal of ensuring access to affordable, reliable, sustainable and modern energy for all, while always keeping the citizen at the center of this transition. He also launched a website (www.energytransition.in) which will act as a repository of energy transition related knowledge resources from around the world."

He further informed that a Renewable Energy Investment Promotion and Facilitation Board (REIPFB) Portal has also been developed to provide one-stop assistance and facilitation to the Industry and Investors for development of projects and bringing new investment to the Renewable Energy sector in India.