Ministry of New & Renewable Energy (MNRE) has recently passed an order in regards with formation of Project Development Cell (PDC) with the aim of attracting investments in India.
The main two objectives of Project Development Cells (PDCs) is to create projects with all approvals, land available for allocation and with the complete Detailed Project Reports for adoption/investment by investors and to identify issues that need to be resolved in order to attract and finalize the investments and put forth these before the Empowered Group.
MNRE has requested the Department for Promotion of Industry and Internal Trade (DPIIT) to nominate representatives from Invest India to participate in the working of this cell.
In February 2020, MNRE had opened a Industry and Investors’ Facilitation Centre in the Ministry which has been working as a focal point to provide correct and timely information on Policies and programs of the Government and also resolve the issues of the renewable energy (RE) investors and industry in the country.
India is committed to increasing its share RE to 40 percent of the total power generation capacity by 2030 to mark India’s significant contribution towards mitigating climate change challenges.
The above stated are some of the efforts by MNRE in that direction which will work as a fast track mechanism in resolving the investors’ issues and taking the Ease of Doing Business (EODB) to a notch higher.
This is an Agency News-Feed, edited by Clean-Future Team