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.