Industry and Investors' Facilitation Centre
- Posted By
10Pointer
- Categories
Economy
- Published
17th Feb, 2020
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Context
- The Ministry for New and Renewable Energy (MNRE) has inaugurated an “Industry and Investors’ Facilitation Centre” as a new wing of the ministry, to resolve concerns of investors in this sector.
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What will it do?
- The centre will work as a focal point to provide correct and timely information on Policies and programmes of the Government and also resolve the issues of the renewable energy (RE) investors and industry in the country.
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How the target is going to be achieved?
- MNRE is committed to increase the share of Renewable Energy to 40 percent of our total power generation capacity by 2030 to mark India's significant contribution towards mitigating climate change challenges. This centre will play an important role to achieve this goal.
- The Facilitation Centre will work as a fast track mechanism in resolving the investors' issues and taking the Ease of Doing Business (EODB) to a notch higher.
- The centre will “catalyze and boost investor confidence and safeguard timely completion of projects in the sector,” according to the ministry. A devoted portal for this task will be set up soon.
- Referring to the efforts to enhance RE capacity, the Minister informed that 86 GW Capacity has already been installed, 34 GW is under implementation while 30 GW is at various stages of tendering."
- The Ministry is setting up Ultra Mega RE Power Projects for providing land and transmission on plug and play basis.
- The Ministry has strengthened Power Purchase Agreements (PPAs) and Letter of Credit measures for payment security mechanism.
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Who will be the head?
- The Centre will be headed by Joint Secretary (Mr Amitesh Kumar Sinha), MNRE.
- Soon, a dedicated portal will be developed for the purpose.
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Quick Recap
- Industry and Investors’ Facilitation Centre—by Ministry for New and Renewable Energy (MNRE)—headed by Joint Secretary (Mr Amitesh Kumar Sinha).
- IIFC is a new wing of MNRE.
- MNRE is committed to increase the share of RE to 40% by 2030.
- MNRE is setting up Ultra Mega RE Power Projects on plug and play basis.
