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.
