'Investor commitments received for 1.3 L MW renewable energy'

Even before the first-ever meet for attracting investment in renewable energy sector starts, the country has received commitments to create 1.30 lakh MW generation capacity, Power Minister Piyush Goyal said today.
"We have received commitment for investments for nearly 1.3 lakh MW of renewable energy from both the domestic and international players," Goyal today said, speaking here on sidelines of an event organised by VASVIK.
The government, which is targeting an investment of USD 100 billion in clean energy over four years, will be holding 'Renewable Energy Global Investors Meet and Expo' (RE-INVEST) from February 15 to 17.
The Minister did not give details of the investment proposals.

It can be noted that every megawatt of new capacity in solar energy requires investment of up to Rs 8 crore, while the same for wind energy is Rs 4.5-6.85 crore.
The meet, organised by Ministry of New and Renewable Energy (MNRE), is aimed at showcasing the government's commitment to the development and scaling up of renewable energy to meet the national energy requirement in a socially, economically and ecologically sustainable manner, he said.
Goyal added that the government is working closely with domestic and international partners to achieve its target of 1 lakh MW of solar capacity and 40,000 MW of wind power in the next five years.