China, Germany, UK back India on renewable energy

 The Dollar Business Bureau   India’s commitment to renewable energy got a major boost as China, Germany and UK said that they will back its initiatives. Speaking on the side-lines of Re-Invest 2015 - first Renewable Energy Global Investors Meet & Expo, Uwe Beckmeyer, Deputy Minister, Federal Ministry of Economics & Energy, Federal Republic of Germany and Baroness Sandip Verma, Minister of Energy & Climate Change, UK, announced their support to India in renewable energy sector. The UK Minister said that she would encourage Indian RE firms to explore UK financing and also assured that her country will support India in Framework, Financing and Firms. Michael R Bloomberg, UN Secretary General’s Special Envoy for Cities & Climate Change urged both India’s private sector and foreign investors to continue developing and investing in the clean energy market. The more India invests in sustainable cities, the stronger its economy will grow, he added. Prior to this event, on Friday, a Chinese delegation led by the Chinese Photovoltaic Industry Association (CPIA), along with 13 Chinese solar manufacturing firms, met the Indian Solar Energy Industry to discuss the available opportunities for collaboration and investments in the Renewable Energy sector. Speaking at the event, Prime Minister, Narendra Modi said “If any country has the potential to lead the world in the domain of renewable energy, it is India,” while asserting the need for energy production and connectivity in the present age of globalization. The PM described India’s thrust towards renewable energy production as an effort to ensure universal energy access to India. He further called for a sustained technological research in renewable energy and the need for domestic equipment manufacturing in renewable energy as part of the ‘Make in India’ initiative. Modi further went on to say that India will, hereafter, focus on Solar Energy, Wind Energy and Biogas Energy besides thermal, gas hydro and nuclear power, which it has been already focused into.” In this regard, he announced, “With an aim to pool research and technology advancements in the field of solar energy, India is working towards forming a consortium of 50 countries that have abundant solar energy.” Modi also suggested the development of hybrid energy parks that involve both solar and wind power to achieve maximized benefits. In the rural areas, the PM suggested for the solar pumps to reduce input costs for the farmers and also called for micro-irrigation as a step to enhance crop yield. Meanwhile, speaking at the plenary session of the event on Monday, the Minister of State (I/C) for Power, Coal & Renewable Energy Piyush Goyal said that the government is committed to using renewable energy and also assured that the government will act as a facilitator in encouraging and protecting investments in India. The Minister hoped that this event, that has got 2800 delegates from across 41 countries, would pave a way to future development of renewable energy sector. Speaking at the Friday meet held by Federation of Indian Chambers of Commerce and Industry (FICCI), Rakesh Bakshi, CMD, Member of FICCI National Executive Committee said, “The Government of India’s initiative on Make in India would ensure that Renewable Energy technologies are able to deliver 2000 MW in the next 5 years to the Indian Grid Networks. We see 100000 MW coming out of solar sector and balance 100000 MW through wind and other renewable energy technologies, he added. He further exuded confidence that multi stakeholders at RE-Invest 2015, will help in driving the vision together of renewable energy based power into the Indian grid networks over the next five years." On the other hand, the Chinese delegation felt that the FICCI meet on Friday would be a startup for further energy collaboration between India and China. The Chinese Solar Components sector constitutes for cumulative export of $15.6 billion in 2014 and top 10 manufacturers of solar components in the world are from China. According to reports, the government is under plans to accelerate the deployment of renewable energy to more than 160 GW by 2022 including 100 GW solar energy and 60 GW wind energy. Mr Goyal also exuded confidence that the renewable energy industry would become self-reliable in next three years without any need for subsidy.   

This article was published on February 16, 2015.