Govt acquires land for renewable energy SEZ in Nagpur

New Delhi: Government said it has acquired 2,000 hectares of land to develop a special economic zone (SEZ) for renewable energy in Nagpur, which would become operational within 2-3 years.

'2,000 hectares of land has been acquired for the Renewable Energy SEZ in Maharashtra and it would become operational in 2-3 years time,' Union Minister for New and Renewable Energy Vilas Muttemwar told reporters here.

This SEZ is being developed by the Maharastra Industrial Development Corporation (MIDC) and Indian Renewable Energy Development Agency (IREDA).

A European firm is understood to have committed investment worth 3.71 billion euros (Rs 22,000 crore) in the SEZ.

Government is focussing on non-conventional energy sources, including wind and solar power. Various tax benefits have been given for investments in the renewable energy area.

India has emerged as a major supplier of equipment for wind power, led by Pune-based Suzlon Energy.