27 May '14, 1pm

Former Banker Will Now Oversee Renewable Energy in India

Former Banker Will Now Oversee Renewable Energy in India

NEW DELHI -- Indian Prime Minister Narendra Modi appointed a former banker to oversee coal, power and clean-energy reforms in a move aimed at resolving fuel bottlenecks and chronic blackouts hampering economic growth. Piyush Goyal was named minister of state for power, coal and renewable energy with independent charge, meaning he can take decisions without cabinet oversight, according to a government statement today. The 49-year-old chartered accountant and investment banker was treasurer of Modi’s Bharatiya Janata Party and served on the board of the State Bank of India, the nation’s largest bank, according to his website. The new government’s “intention is to debottleneck the system,” Goyal told reporters in Delhi, citing Modi’s overhaul of the energy industry in Gujarat state where as chief minister he returned state utilities to profit and eliminated blackouts. Goyal h...

Full article: http://www.renewableenergyworld.com/rea/news/article/2014...

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