Policy linking fiscal incentives to renewable energy adoption accepted by Power and Finance ministries
Union Minister for New and Renewable Energy (MNRE), Prahlad Joshi, announced that a new policy linking fiscal incentives to renewable energy adoption has been accepted by both the Power and Finance ministries. This policy aims to encourage States to sign Power Purchase Agreements (PPAs) for renewable energy. Joshi emphasized the government's serious efforts to address current issues in renewable energy generation, including grid and transmission constraints. Despite a 7% decline in global renewable investments, India has seen strong investment flows in the sector, indicating its commitment to affordable and reliable green energy.
Key Points
- A new policy linking fiscal incentives to renewable energy adoption has been accepted by Power and Finance ministries.
- The policy aims to encourage States to sign Power Purchase Agreements (PPAs) for renewable energy.
- The government is actively working to resolve issues related to grid and transmission constraints in renewable energy generation.
- India has experienced strong investment flows in the renewable sector, contrasting with a 7% global decline.
- The goal is to ensure affordable and reliable power generation from renewable sources.
Exam Facts
- Union Minister for New and Renewable Energy (MNRE): Prahlad Joshi.
- Policy accepted by: Power and Finance ministries.
- Global renewable investments: declined 7%.
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