Company has asked the Assam government to come up with "investor friendly" policies for renewable energy sector investors
Welspun Energy Limited (WEL), a subsidiary of Mumbai-based Welspun Group, has expressed its "eagerness" to invest in Assam's renewable power sector. For that, the company has asked the Assam government to come up with "investor friendly" policies for renewable energy sector investors.
"Most of the states from Southern and Western parts of India have been covered by us. It is our eagerness to enter the North-Eastern part where we have not yet ventured. It is an important region for us and we are looking at how we can put our footing in the area, particularly in Assam which is the most progressive state in the North-Eastern belt," said Kishor Nair, president of WEL.
He was speaking at a conference on renewable energy organised by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
Nair strictly meant business while he was speaking of his "eagerness" to invest as he specifically underlined four "suggestions" that the state government need to incorporate in its policies to encourage investment in renewable energy sector.
Guaranteeing payment security to renewable energy sector investors, putting in place a robust power evacuation and distribution plan in place, easing statutory clearances for renewable energy projects, particularly pollution clearances and making land available were the four "suggestions" that Nair put forth before the Assam chief minister Tarun Gogoi, who are also present at the conference and was patiently hearing to him.
"The state government need to think in terms of investor friendly policies so that investment comes," added Nair.
He said one of the major issues that investors would be looking at is payment security for them. "We are not putting money from our side but getting money from lenders and bankers, so every investor would be looking for payment security," he said.
The fund infusion during 2013-14 will ensure compliance to the regulatory norms on capital adequacy