Covid-19: India woos renewable energy equipment makers
India is eyeing renewable energy equipment manufacturers looking to shift base from China following the Covid-19 outbreak.
“At a time when many companies are planning to shift their manufacturing base from China, it is an opportune time for India to bring policy changes to facilitate and catalyse manufacturing in India,” a statement from the Ministry of New and Renewable Energy (MNRE) said.
MNRE has set up the renewable energy Industry Facilitation and Promotion Board to facilitate investment in the sector, the statement said.
“The three power and renewable energy sector non-banking financial companies, namely, Power Finance Corporation Ltd, REC and Indian Renewable Energy Development Agency (IREDA), have reduced their repayment charges to 2 per cent to enhance funds availability for new projects.
