The Ministry of New and Renewable Energy is the nodal Ministry of the Government of India at the national level for all matters relating to new & renewable energy. It undertakes policy making, planning, promotion and co-ordination functions relating to all aspects of renewable energy, including fiscal and financial incentives, creation of industrial capacity, promotion of demonstration & commercial programmes, R&D & technology development, intellectual property protection, human resource development & international relations.
Over the last 25 years the Ministry of New and Renewable Energy (MNRE) has been implementing one of the world’s largest broad-spectrum programmes covering the whole range of renewable energy sources to increase renewables based power generation capacity. These programmes broadly seek to supplement conventional fossil-fuel-based power through harnessing wind, small hydro and bio power; reach renewable energy to remote rural areas for lighting, cooking and motive power; use renewable energy in urban, industrial and commercial applications; and recover energy from the urban, municipal and industrial wastes; and develop alternate fuels and applications for stationary, portable and transport uses apart from supporting research, design and development of new and renewable energy technologies, products and services. In addition, exploitation of chemical sources of energy, geothermal energy, tidal energy and biofuels for automotive applications is also envisaged.
The Ministry has been pursuing a three-fold strategy for promotion of renewables; a) providing budgetary support for research, development and demonstration of technologies; b) facilitating institutional finance through various financial institutions; and c) promotion private investment through fiscal incentives, tax holidays, depreciation allowance and remunerative returns for power fed into the grid. Indian renewable energy programme is primarily private sector driven. It offers significant investment and business opportunities. A large domestic manufacturing base has been established in the country for renewable energy systems and products. Companies investing in these technologies are eligible for fiscal incentives, tax holidays and depreciation allowance apart from the remunerative returns for power fed into the grid. Further, the Ministry is encouraging foreign investors to set up renewable power projects on Build-Own and Operate (BOO) basis in the renewable energy sector with 100 percent foreign direct investment for which no prior approval is required from the Government.
Apart from providing financial support, the Ministry also plays a key role in providing technical back-up for promoting RE systems and devices through its specialized technical institutions. Since last two years new impetus has been given to research and development to cutting edge new and renewable technology such as next generation solar technologies, Hydrogen and Fuel Cells, Bio Fuels etc.
As a result of efforts made during the past quarter century a number of technologies and devices have been developed and have become commercial viable. India is in a position to provide consultancy services, transfer technologies, set up manufacturing plants and projects on turnkey basis and organize programmes in other countries. This is a testimony of the rich experience gained over 25 years. India is looking beyond its shores for cooperation with other countries and organizations in RE and new investments in these climate change technologies.
For more information, please visit www.mnre.gov.in