Arvind Subramanian, India’s Chief Economic Advisor, said that the role of public sector financing will assume paramount importance if India is to expand its renewable energy footprint in power generation over the next decade.
Piyush Goyal, Union Minister of State ( IC) for Coal, Power and New & Renewable Energy, said here today that non-compliance of RPO (Renewable Purchase Obligation) shall soon draw penalties. He said this at session titled ‘Financing Renewable Energy: Success Strategies’ at the 1st Renewable Energy Global Investors Meet & Expo (RE-INVEST) summit. The Minister said that the new RE policy, that will be enacted soon, shall also have provision for Renewable Generation Obligation (RGO). He said that the cost of renewable, except small hydro, has come down drastically over the last decade. “There is a need to socialise the cost of Renewable Energy (RE) through participation of all states, because currently only the states pushing for RE are bearing the burden,” said he.