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Energy cell to woo investors

The government is setting up an investment promotion cell for the energy sector to provide a single point of contact for investors, minister of new and renewable energy Farooq Abdullah said on Tuesday.

business Updated: Jun 13, 2012 23:35 IST

The government is setting up an investment promotion cell for the energy sector to provide a single point of contact for investors, minister of new and renewable energy Farooq Abdullah said on Tuesday.

In the next five years, the country plans to invest $50 billion in renewable energy, including $19 billion in wind, $25 billion in solar and $3 billion each in hydro and biomass segments, he said.

“The cell will be our window for the potential investors to engage with us and bring their efforts and ideas to fruition,” he added.