Amidst mushrooming of Special Economic Zones (SEZs) in the country, the Union Ministry of New and Renewable Energy has come up with a proposal of setting up an exclusive SEZ with the avowed objective of promoting the renewable energy sector. 

Union Minister of State for New and Renewable Energy Vilas Muttemwar said on Thursday that his ministry was in the process of preparing detailed guidelines for the proposed SEZ in consultations with the Ministry of Industries and Commerce.

Five states — Karnataka, Tamil Nadu, Maharashtra, Andhra Pradesh and Chhattisgarh — have evinced interest in setting up the exclusive SEZ, the minister told newsmen on the sidelines of a function organised by the ministry.

The SEZ for renewable energy would focus exclusively on manufacturing of equipment, systems and devices for the industry at competitive costs and hopes to get favourable fiscal and infrastructure environment, he said.
“As the market in India for renewable energy is estimated to be worth Rs 2,500 crore and is growing at an annual rate of 15 per cent, several major Indian and foreign investors have approached the Centre expressing interest to invest in this venture,” the minister said.

Presently, around 7.7 per cent of the country’s total energy generation comes from renewable sources like solar, bio-mass and wind.