Indian New and Renewable Energy Minister RK Singh recently told the Parliament that Southeast Asian countries like Singapore have become close allies to the country in terms of Foreign Direct Investment (FDI) in the clean energy sector.
He also said, “Solar power plants are being installed in the country with domestic as well as foreign investments. Foreign Direct Investment (FDI) up to 100 per cent is permissible through automatic route for setting up renewable energy projects, including solar energy projects, in the country. The country-wise details of Foreign Direct Investment (FDI) equity inflows received in the solar energy sector during the last three financial years and the current financial year (up to September 2023)”
His written reply to the parliament reveals data of the top four states that received the highest FDI received in 2023. The statement revealed that the highest FDI in the Indian renewable sector came from Singapore with a total value of USD 780.781 million.
The minister shared data of the 27 countries that are the highest source of solar foreign direct investment (FDI) in the solar sector within the country. It mentioned that overall, there are 27 countries that provide 3860.158 Mn in investments to India. Based on the data shared by the minister in the written reply revealed the top 4 countries that constitute the biggest source of investment, i.e., Singapore – 780.781, United Kingdom (UK) – 778.271, Mauritius – 632,523, and UAE – 543.235.
Among the total 27 countries those which are the lowest Sources of FDI to the solar sector in India are – Sweden – 0.478, Seychelles – 0.075, Germany – 0.777, Cyprus – 0.450, Czech Republic – 0.880 and Bulgaria – 0.006.
