NEW DELHI: The Federation of Indian Chambers of Commerce and Industry (FICCI) on Friday urged Minister for New and Renewable Energy Farooq Abdullah to speed up work on the list of pre-approved projects.
The industry body called upon Mr. Abdullah to initiate immediate steps aimed at promoting renewable energy (RE) legislations including a standard set for renewable portfolio standards for each State, promoting indigenous manufacturers for producing various components, accelerated depreciation for all RE projects, service tax exemption on services used for installation and commissioning of projects and awareness programmes on RE technologies for different industry clusters.
In a statement issued here, FICCI President Harsh Pati Singhania underlined the need for dynamism to enhance the deployment of renewable energy to all sections of the society.
The total potential of renewable energy in India is around 84,776 MW but the current installed capacity is 13,878 MW of grid-interactive power which had a lot of scope for capacity addition.
India’s renewable energy has been dominated by wind energy and now the focus should be on solar, hydro and biomass.