Ministry of New & Renewable Energy (MNRE) has recently passed an order in regards to the constitution of Project Development Cell (PDC) for attracting investments in India.
The Central Government has approved the setting up of an “Empowered Group of Secretaries (EGOS) and Project Development cells (PDCS) in the ministries/departments of the Government of India for attracting investments in India by the development of investible projects in coordination between the central government and state governments.
The main aim of PDC will be to provide support and facilitation to investors for investing in India and to boost growth in the renewable energy sector.
MNRE has requested the Department for Promotion of Industry and Internal Trade (DPIIT) to nominate representatives from Invest India to participate in the working of this cell.
“While a portal is being developed to receive proposals from the RE sector, in the meantime, such proposals can be sent to this Ministry on pdc.mnre gov.in.”,Ministry informed.
The Ministry instructed All Industry Associations to inform their members and other investors who are looking for an opportunity for investment in the renewable energy sector.
The Ministry of New & Renewable Energy (MNRE) has earlier issued a notice announcing the creation of a Foreign Direct Investment (FDI) cell in the Ministry of New & Renewable Energy (MNRE) for processing FDI proposals — reg. The notice states that the Government of India had recently reviewed the FDI policy for curbing opportunistic takeovers acquisitions of Indian companies due to the current COVID-19 pandemic.’