Centre to introduce bill for clean energy

The government has started working on a new policy to boost the generation of clean energy to bring more alternatives to traditional fuel sources.

Power Minister Piyush Goyal told the Rajya Sabha that a new bill would soon be introduced to boost the renewable energy sector. “The ministry is preparing a Renewable Energy Bill to facilitate speedy growth of renewable energy power generation in the country. The details are being worked out in consultation with concerned stakeholders. Efforts will be made to bring the policy in place as early as possible,” Goyal said.

He said the Reserve Bank of India had already issued instructions to all scheduled commercial banks to consider as priority sector lending the loans sanctioned for setting up off-grid solar and renewable energy solutions in households. 

“A $100 billion investment in the expansion of renewables is doable and fundable. For this a viable business model would have to be devised to make bankers want to lend for the development of the sector,” Goyal had said at a conference here recently.