“A lot of scope is there in the coming days for renewable energy… According to our information, nearly 200 billion rupees ($4.3 billion) is the investment we are expecting in five to seven years,” he said during Reuters Global Environment Summit.
The investments span solar, hydro, wind and biofuel energy.
India aims to generate 25,000 megawatts of power from renewable energy over the next four years, more than double the current generation level of 12,000 MW.
Only three percent of India’s total power mix is now from renewables, and developing this sector is at the centre of India’s national plan on climate change which does not commit to any emission targets.
India needs to work more towards solar and wind rather than biofuel considering the experience around the world in that.