RE Equipment Manufacturing Parks in India
#GS3 #Industry&Infra #Energy
The Ministry of New and Renewable Energy(MNRE) has initiated action in big way towards setting up new hubs for manufacturing renewable energy equipments in the country to meet both domestic and also cater to global demand.
- With this objective in view, Ministry has written to various State Governments and various Port Authorities to identify land parcels of 50-500 acres for setting up such Parks.
- Tuticorin Port Trust, States of Madhya Pradesh and Odisha have already expressed their keen interest in setting up RE Manufacturing Parks.
- These hubs will manufacture equipments like silicon ingots & wafers, solar cells & modules, wind equipments and ancillary items like back sheet, glass, steel frames, inverters, batteries etc.
- At present, country has around 10 GW of Wind equipment manufacturing capacity.
- In case of Solar Cells and Modules India imports about 85 % from abroad.
- To incentivise domestic manufacturing, Government of India already announced provisions to enable levying of Basic Customs Duty on import of solar cells and modules.
It may be stated that in a time when many companies are planning to shift their manufacturing base from China, it is opportune time for India to bring policy changes for facilitating and catalysing manufacturing in India.
- In tune with this, MNRE has set up RE Industry Facilitation & Promotion Board to facilitate investment in RE the sector.
- The Ministry has also strengthened the clauses in Power Purchase Agreements(PPAs) to boost investor confidence.
- The three Power and RE Sector NBFCs namely PFC, REC and IREDA have reduced their repayment charges to 2% for enhancing the fund availability for new projects in the sector.
- More over, IREDA has brought out a new Scheme for project specific funding to promote RE manufacturing in India.