Foreign Direct Investment (FDI) up to 100% is permitted under the automatic route for renewable energy generation and distribution projects in India subject to provisions of The Electricity Act, 2003.
India, as is very well known, has the fifth largest power generation portfolio worldwide with a power generation capacity of 271.722 GW. Economic growth, increasing prosperity, a growing rate of urbanization and rising per capita energy consumption has widened access to energy in the country.
Wind energy is the largest renewable energy source in India. The Jawaharlal Nehru National Solar Mission aims to generate 1,00,000 MW of solar power by 2022. This will be creating a positive environment among investors keen to tap into India’s potential.
The country offers unlimited growth potential for the solar PV industry.
India is the fourth largest importer of oil and the 15th largest importer of petroleum products and LNG globally. The increased use of indigenous renewable resources is expected to reduce India’s dependence on expensive imported fossil fuels.