Budget 2017 gives big boost to renewable energy

index.jpgSource: The Economic Times, Feb 02, 2017

NEW DELHI: The Budget has given a boost to renewable energy, announcing another 20,000 mw of solar park development in phase II and a slew of duty reductions on components for fuel cell-based power generating and biogas systems, as well as wind energy equipment.

The Budget announced solar power supply at about 7,000 railway stations in the medium term but a beginning has already been made at 300 stations, said finance minister Arun Jaitley.

“Work will be taken up for 2,000 railway stations as part of the 1000 MW solar mission.”

Power, coal, renewable energy and mines minister Piyush Goyal was pleased with the proposals.

“Through honest and transparent bidding, we have been able to bring down cost of renewable energy. The power sector is fast moving towards profitability and self-sufficiency with the UDAY programme. Power and mining sectors have received all that we had requested,” he said.


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