Rs 1,510 cr FDI in Wind Energy Sector Over Past Three Years.

New Delhi: In the last three years, foreign direct investment of Rs 1,510 crore has taken place in the wind energy sector, which is the fastest-growing renewable energy source in the country, the Lok Sabha was informed on Friday.
     
"Wind energy is the fastest-growing renewable energy sector in the country and an investment of Rs 1,510 crore has been received as FDI in this sector during the last three years and the current year up to June," New and Renewable Energy Minister Farooq Abdullah said in a written reply to a query in the Lower House.
 
The government has allowed 100 per cent FDI in the renewable energy sector in the country.
     
Meanwhile, answering another query, the minister said the government plans to implement a programme for 'Development of Solar Cities', which aims to substitute a minimum 10 per cent of the projected demand for conventional energy in the target cities with solar power.
 
"Sixty cities are proposed to be developed as solar cities during the 11th Plan period, including four model cities and 10 pilot solar cities," Abdullah said.
 
He said the ministry is providing financial support up to Rs 50 lakh for each solar city to the respective city government for preparing a master plan, besides awareness generation and capacity-building activities.
 
"So, far, sanctions have been given for developing 36 solar cities, including state capitals in the country," Abdullah said.
 
In reply to another query, he said biomass gasifier systems and solar charging stations are to be set up in select African countries under the aegis of the India-Africa Forum Summit (IAFS).

Source : zeenews.india.com