Piyush Goyal Minister of state for Power, Coal, New and Renewable Energy and Mines.
A Bloomberg New Energy Finance report stated that India is making strides on clean energy targets and is on track to install 10GW of renewables per year from 2017 onwards. Tim Buckley, a Director at the Institute for Energy Economics and Financial Analysis said “Goyal has put forward an energy plan that is commercially viable and commercially justified without subsidies, so you have big global corporations and utilities committing to it.”
Vinjay Rustag, Managing Director of Bridge to India, said “When you talk to major international investors about the Indian renewables sector, the fundamentals for the sector are compelling."
"When you look at the imperative to reduce carbon emissions, the growing power demand, the desire to reduce energy costs, as well to provide power to people 24/7 across India, the fundamentals are so strong that we see a strongly growing renewable power sector for one or two or more decades in the future. said Rustag.
India has received an influx of investment from the domestic and international private sectors, including:
- ADB has approved a $175 million loan to the Power Grid Corporation of India to help India diversify its power mix by increasing its supply of clean energy
- IFC has invested $5 billion in a 3GW renewables portfolio
- $20bn from Japan’s Softbank for partnerships with Taiwanese company Foxconn and Indian business group Bharti Enterprises.
- EDF announced $2bn in Indian renewable energy projects
- Renew Power received $390 million to finance 700MW of new wind and solar capacity
As India moves decisively towards renewables for future generation Renewable Energy World India conference and exhibition offers a platform for industry experts to exchange knowledge and showcase new renewable energy technology developments.
Under the patronage of the Ministry of New and Renewable Energy, the event will provide the opportunity to make long lasting business connections with high-level dignitaries, officials and executive management from government, utilities and private enterprises from India and around the world.
The conference organized by PennWell Corporation, will feature a wide range of global experts who will come together to discuss how the greater use of renewables can be successfully achieved and sustained. The long-term success of renewable energy is clearly interlinked with protecting the stability of the grid, which is why energy storage is a key issue for the Indian energy sector. It is these ideas, amongst others, that will be explored in the conference programme.
The conference will also have a special panel discussion session entitled Examining the Policy Roadmap for the 175 GW, 2022 Target, which will bring together key industry stakeholders from government, finance, project development and market analysts.
Many companies traditionally focused on conventional power are recognising the rapid growth and opportunities in renewable energy. The exhibition is co-located with the 16th annual POWER-GEN India & Central Asia, which gives attendees the opportunity to access leading exhibiting companies from right across the power industry sector. Visitors can pre-register online for free.
Renewable Energy World India will take place on the 17-19 May 2017 at the Pragati Maidan in New Delhi. It is the must attend event for all industry professional tasked with diversifying India's energy mix.
For more information visit www.renewableenergyworldindia.com