India’s northeast attracts nearly INR 40,000 crore of renewables investments

The region has over 100 GW of hydro potential.

Major Indian companies have committed to investing INR 38,856 crore for the development of renewable energy in the northeastern region.

According to Union Minister for New and Renewable Energy Pralhad Joshi, this is the total amount of 115 memoranda of understanding signed between state governments and private investors.

The region is seen to have massive untapped potential, including over 129 gigawatts (GW) from large hydro projects and more than 18 GW from pumped storage plants.

In line with this, the ministry has also set aside 10% of its annual scheme budget exclusively for the region.

The ministry is also extending enhanced financial assistance to further encourage investment. This includes a 10% higher Central Financial Assistance under the PM Surya Ghar Muft Bijli Yojana, as well as a 20% higher CFA for Components B and C of the PM-KUSUM scheme.