[The Vector] India’s Clean Energy Potential – Continued
(Continued from an earlier article…)
Bill Gates emphasized to policymakers in Washington D.C. the importance of the H-1B visa to companies like Microsoft. “…They celebrate the fact that we’re kicking them out after giving them the world’s best education,“ said Gates about India, who is benefitting from U.S. policy actions. As a case in point, an article by E. Bharali in India believes India’s energy progess will be made partly because of the engineers and others who are forced to come home to work. Another news article stated that India now has more start-up companies due to the H-1B visa ban. India has become a land of opportunity for bright minds that have been making an impact in the U.S.
India has approximately 167 GW of electricity capacity, with 17 GW of renewable energy capacity, says Abhishek Shah (Green World Investor.) India’s energy plan is ambitious and forward thinking, say some experts, making solar and wind energy a big opportunity in the country. The government is aiming for 45,000 MW of installed wind energy capacity by 2030, up from 7,000 MW in 2007.
Siemens, a top global supplier of wind turbines and heavily involved in several green energy industries, is among the many companies establishing a presence in India. The German company has invested heavily into solar thermal technology, and it has noted that India plans to allocate half of its solar energy to solar thermal. “The market outlook for renewable energies in India is extremely positive and we see a huge potential for the wind and solar business in the near future,“ said Siemens Managing Director Armin Bruck in a statement on September 12th, 2010.
Tata Power, one of India’s largest utilities, generates 16% of its power from renewable sources, and aims to increase that to 25% by 2016. It has wind farms and solar sources in India, and it is reported to be turning some attention to geothermal.
Suzlon Energy is an Indian company that is the 5th largest wind turbine manufacturer. The company committed $5 billion in green development over a 5 year period, from 2008 to 2013. Tulsi Tanti, founder of Suzlon, said in a press release announcing the committment, “The urgent global need for clean energy compelled me to dramatically expand my family’s business holdings. Our flagship business continues to focus on developing wind power solutions…on the other hand, we now commit to developing and owning green power assets, which will bring energy where it is needed most.“
A recent study from Business Insight was released about emerging economies and renewable energy. Rapid growth in economies and subsequent energy consumption in developing countries will cause a need for more expansion of the power generation market. By 2030, says the report, non-OECD economies will account for 59% of global energy consumption, a marked increase from 49.8% in 2006. This is similar to the International Energy Agency estimates.
Looking forward, India’s experts and planners say wind energy has a potential of around 49 GW with only 12 GW installed to date; mini hydro plants have a 15 GW potential out of the current 2.5 GW installed. Biomass also has a 25 GW potential, but only 2.1 GW is installed. Solar has the potential to meet India’s current energy needs with little yet installed. The country is set to build it first solar part in Gujarat state, investing more than $2.3 billion with infrastructure of 500 MW. Gujarat sees about 330 sunny days per year. With the renewable energy mandate in place and undersupply, plants will have no problem selling energy to the utilities.
No doubt, renewable energy is a growth opportunity of necessity in developing countries like India.
