In his address to a meeting of US private sector organised by US India Business Council yesterday, Shinde said India is moving on the path of massive investment in the energy sector, especially electricity generation and transmission.
According to Mr. Shinde
“Energy security is of vital economic and strategic significance for us. A number of financial, technological and exploratory initiatives already exist with the US in clean and renewable energy and energy conservation and efficiency and we now need to explore economic partnerships between the Indian and US companies in this shift to clean energy. There are excellent opportunities in India to examine the feasibility of clean energy technologies, which will be a win-win situation for India and the United States. I am also aware of the concerns of investors with respect to land acquisition, coal sourcing, financial health of discoms, pricing reforms, payment security and contract sanctity. Recognising the need for an overall and comprehensive legal architecture and a policy framework conducive to larger and more sustained investment in the power sector, the Government of India took numerous steps to facilitate reforms in the sector.
Mr. Shinde said the Indian government has proposed various proposals in the Budget 2012 to stimulate investments.
Further, we found that a crucial Land Acquisition and Rehabilitation and Resettlement Bill is under the consideration of the Parliament.
The current installed capacity of India stands at over 1,90,000 MW of which renewables (wind and solar) contribute over 22,000 MW.
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