Acts to govern renewable energy in India
Q. Which of the following statements is/are correct about renewable energy sector in India?
1. The renewable energy sector is governed by the Electricity Act, 2003.
2. National Renewable Energy Fund (NREF) has a corpus of over Rs.17,000 crore.- Published on 18 Dec 15a. Only 1
b. Only 2
c. Both
d. None
ANSWER: Both
- Electricity Act, 2003 for governing renewable energy sector will be replaced by proposed Renewable Energy Act.
- The act will also establish National Renewable Energy Fund (NREF) with corpus of over Rs.17,000 crore.
- The NREF would be used for supporting all the objectives of the Act.
- It mentions funding for R&D, resource assessment, demonstrations and pilot projects, low cost financing, investments for skills development, supporting RE technology manufacturing, infrastructure development, promoting all forms of decentralised renewable energy.
- The Ministry of New and Renewable Energy “may offer a starting corpus” to such State Green Fund(s) from the National Renewable Energy Fund.
