MNRE issues draft Technology development and innovation policy

The Ministry of New and Renewable Energy (MNRE) has issued the draft Technology Development and Innovation Policy to focus on indigenous technology development, manufacturing and quality improvement for renewable energy. The MNRE has proposed to provide up to 100 per cent financial assistance for research and development, and to academic, government and non-profit institutions for developing prototype technology and setting up specialised centres of excellence for renewable energy. Financial assistance amounting to 50 per cent of the project cost will be provided to projects that will be set up in partnership with industries and private institutions. In addition, the MNRE has planned to double the budget for technology development initiatives.

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