Dharmendra Pradhan invites global investors to be part of India’s renewable energy journey

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National News

Nov 29, 2020

9:49AM

Dharmendra Pradhan invites global investors to be part of India’s renewable energy journey

AIR

Petroleum and Natural Gas Minister Dharmendra Pradhan has said that India is emerging as a sought after destination for investment in the renewable energy sector.

Addressing the 3rd global renewable energy investment conference 2020 through virtual mode, he said that 64 billion American dollars has been invested in India's renewable energy sector during the last six years. He said, the Government of India targeted to set up five thousand CBG plants in the country with an investment of 20 billion American dollars even as 1500 CBG plants have already become operational.

Underlining the importance of biofuel in maintaining the balance between environment and economy, Mr Pradhan said a target has been fixed to increase the ethanol mix in petrol to 20% by 2030. He added that twelve 2G ethanol bio-refineries are also being set up in 11 States. He said that the oil and gas PSUs have taken up the mission to solarise about 50% of their fuel stations in the next five years.