Total investment by two public sector enterprises under Ministry of New and Renewable Energy is pegged 37 per cent higher at Rs 37,828.15 crore for 2023-24.
This is compared with revised estimate (RE) of Rs 27,547.47 crore total investment by the two firms -- IREDA and SECI -- for 2022-23. The budget estimate was Rs 28,570.99 crore. The investment by Indian Renewable Energy Development Agency (IREDA) is pegged at Rs 35,777.35 crore for 2023-24, higher than Rs 25,603.51 crore in RE for the current fiscal. It was budgeted at Rs 27,572.34 crore for 2022-23.
The investment by Solar Energy Corporation of India (SECI) is also expected to increase to Rs 2,050.80 crore in 2023-24 from RE of Rs 1,943.96 crore for current fiscal year. It was budgeted at Rs 998.65 crore for 2022-23.
Advertisement
IREDA was established as a non-banking financial institution in 1987 and is engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency or conservation.
SECI was set up in 2011 to facilitate the implementation of National Solar Mission (NSM) and achievement of targets set therein. Total expenditure of Ministry of New and Renewable Energy has also been increased to Rs 10,222 crore for 2023-24 from RE of Rs 7,033 crore in the ongoing fiscal. It was budgeted at Rs 6,900.68 crore for 2022-23.
Just one email a week