India’s investment thrust will be towards renewable energy: Piyush Goyal

India’s investments in renewable energy will exceed expenditure on power plants based on fossil fuels, which are globally seen as polluting. Coal, power and renewable energy minister Piyush Goyal says the message is loud and clear that the country’s investment thrust will be towards renewables.

Goyal, who says he is inaccessible to industrialists unless they meet him in a group, also tells in an exclusive interview that his government and the states will ensure that losses of state distribution companies (discoms), which exceed Rs 60,000 crore, will be wiped out completely by 2019. The minister says this will happen without big increases in tariffs and a new tariff policy will give a big boost to renewable energy and encourage waste-to-power plants, which will also help the Swachh Bharat campaign of Prime Minister Narendra Modi.

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