Four years of Modi government: During the four years of its rule, Modi government brought about many changes in the country\u2019s renewable energy landscape. Even though it may be too early to call the entire journey as path-breaking, many positive changes have definitely occurred in the last four years considering what latest data shared by the respective ministry show.\u201cTransparent bidding and facilitation for procurement of solar and wind power through tariff based competitive bidding process have led to significant reduction in cost of solar and wind power,\u201d Ministry of New and Renewable Energy \u00a0said in a release. Over $42 billion investment was made in renewable energy in India during last 4 years, it said. Solar, wind energy Globally, India ranks fourth in wind, fifth in renewable power and sixth in the solar power installed capacity, respectively. Solar energy capacity has increased by over 8 times from 2.63 GW in 2014 to 22 GW and he \u00a0wind energy capacity increased by 1.6 times from 21 GW in 2014 to 34 GW, release added. \u201cWe are well on track to achieving 175 GW target of installed renewable energy capacity,\u201d release said. The targets will not only be met but exceeded as well, ministry expected. \u201cRenewable power installed capacity has already reached over 70 GW. Over 40 GW renewable power capacity is under construction\/tendered,\u201d the release added. Foreign investment For financial and (or) technical collaboration and even for establishing renewable energy based power generation projects, foreign investors can enter into joint venture with an Indian partner, the release said. \u201c100% foreign investment as equity qualifies for automatic approval. Government of India is also encouraging foreign Investors to set up renewable energy-based power generation projects on build-own-operate basis,\u201d it added.