The Government will make sure that renewable energy investments in India are protected and encouraged, Piyush Goyal, Minister for Power, Coal and New and Renewable Energy, said on Monday.
Goyal said this while addressing the global investor meet for renewable energy, Re-Invest 2015. He assured investors that though it is pro-poor, the Government understands the problems of investors and will act as a facilitator.
“For a new investment destination, the pre-requisite is an atmosphere which provides investors with an ease of doing business, consistency in policies and bankable contracts,” the Minister said.
The Government has received investment commitments of around $200 billion from 213 companies for setting up 266 GW of power in the next five years.
Goyal said that even if 50 per cent of the commitments are fructified, the Government will meet its target. “I am quite sure that the initial target we had for $100-billion investments in the sector will certainly be exceeded,” he added.
Also, addressing the investor meet was Micheal Bloomberg, UN Secretary General’s Special Envoy for Cities and Climate Change. He urged investors to continue developing and investing in clean energy.
“Prime Minister Modi is showing that confronting climate change goes hand-in-hand with smart economic growth,” Michael Bloomberg. “From my experience, he is absolutely correct to make cities a central focus of his work. The more India invests in sustainable cities, the stronger its economy will grow,” he added.