MNRE gives major push towards setting up RE Equipment Manufacturing Parks in India

▴ MNRE gives major push towards setting up RE Equipment Manufacturing Parks in India
Tuticorin Port Trust, Govts of M P and Odissa express keen interest,Ministry initiates moves to attract investments by Firms shifting base from China,major Policy Changes brought in to incentivise the RE equipment manufacturing for domestic use and exports

The Ministry of New and Renewable Energy(MNRE) has initiated action in big way towards setting up new hubs for manufacturing renewable energy equipments in the country to meet both domestic and also cater to global demand. With this objective in view, Ministry has written to various State Governments and various Port Authorities to identify land parcels of 50-500 acres for setting up such Parks. Tuticorin Port Trust, States of Madhya Pradesh and Odisha have already expressed their keen interest in setting up RE Manufacturing Parks.

Secretary, MNRE Shri Anand Kumar has already held meetings with RE manufacturing companies last week. Ministry has also got in touch with Trade Commissioners / Representatives of various countries inviting them to invest in this promising opportunity in India. Further Secretary, MNRE addressed the US India Strategic Partnership Forum earlier this week through Webinar and sought collaboration and investment by US Firms.

These facilities will manufacture equipments like silicon ingots & wafers, solar cells & modules, wind equipments and anciliary items like back sheet, glass, steel frames, inverters, batteries etc. The hubs will also export equipments and services in the RE sector. At present around 10 GW of Wind equipment manufacturing capacity. In case of Solar Cells snd Modules India imports about 85 % from abroad. The Government of India has already levied Basic Customs Duty for protecting solar manufacturing industry in India.

It may be stated that in a time when many companies are shifting their manufacturing firms from China, it is time for India to bring Policy changes for facilitating manufacturing in India. In tune with this, MNRE has already set up RE Industry Facilitation & Promotion Board to facilitate investment in the sector. The Ministry has strengthened the clauses in Power Purchase Agreements(PPAs) to boost investor confidence. The three Power and RE Sector NBFCs namely PFC, REC and IREDA has reduced their repayment charges to 2% for enhancing the funds available for new projects in the sector. More over, IREDA has brought out a new Scheme for project specific funding to promote new RE projects in India.

Tags : #MNRE #Equipment #Manufacturing #Parks #Tuticorin #Port #Odisha #Government #MP #government

About the Author


Team Medicircle

Related Stories

Loading Please wait...

-Advertisements-




Trending Now

The Neurological Toll of Common Household Chemicals: Insights from Recent ResearchMarch 28, 2024
The Aging Puzzle: Decoding the Mechanisms of AgingMarch 28, 2024
The Double-Edged Sword of Kala-azar Treatment: Shedding Light on Eye ComplicationsMarch 28, 2024
FTCCI Launches Industry-Academia Connect to improve the employability of Engineering Graduates and address the growing demand for Talent in Emerging TechMarch 27, 2024
NTT and Olympus Begin World's First Joint Demonstration Experiment of Cloud Endoscopy SystemMarch 27, 2024
NTT and Olympus Begin World's First Joint Demonstration Experiment of Cloud Endoscopy SystemMarch 27, 2024
2nd Edition of IIFL JITO Ahimsa Run for peace & for non-violence to be held on 31st MarchMarch 27, 2024
Brij Hotels Announced 4 Million in Series A Funding March 27, 2024
Combatting Childhood Sedentariness: The Key to Preventing Premature Vascular DamageMarch 27, 2024
Crucial Findings: Unlocking Paths to Combat Ebola's DevastationMarch 27, 2024
Guarding Against Disease: The Crucial Role of Oral Hygiene in Preventive HealthcareMarch 27, 2024
Sanofi & Cipla announce exclusive distribution partnership to expand reach of CNS portfolio in IndiaMarch 26, 2024
Surmandal's Tribute to the Legends of Hindustani Classical MusicMarch 26, 2024
In Moscow, over 350,000 mammograms have been analyzed using artificial intelligence as part of the compulsory health insurance programMarch 26, 2024
Embark on a Creative Journey: "Kala For A Cause" Unveils Pottery Workshop Series March 26, 2024
Healthtech pioneer Aurora Innovation appoints new CEO – expands in Europe with service that streamlines patient-healthcare interactionMarch 26, 2024
In A Rare Feat, 45 YO Woman Walks Within 6 Hrs. Of Dual Robotic Surgery In A Single Operation At HCGMCCMarch 26, 2024
Improve Cancer Care through Automated CT Analysis: Oncoshield – CTMarch 26, 2024
Empowering Patients: The Role of Advocacy in Indian HealthcareMarch 26, 2024
A New Dawn in Heart Surgery: Mitral Valve Repair for 15-Year-Old PatientMarch 26, 2024