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India going for $160 billion renewable energy business

renewable-energy-pictureflag-indiaIndia’s Renewable energy sector to generate $160 billion business in five years: Economic Survey By ET Bureau | 27 Feb, 2015 NEW DELHI: Positioning India as a responsible nation committed to sustainable development, the Economic Survey 2014-15 has said the Indian clean energy sector is likely to generate business opportunities to the order of $160 billion for the next five years. …….

Evoking the backdrop of the recent US-China climate pact, the Survey points out that this agreement is expected to provide a boost to the renewable energy sector globally.The document forecasts 2015 to be a momentous period with the world set to witness new agreements on climate change and sustainable development; it predicts this year will determine the course for international development and environmental policy agenda for the global community for the next 15 years.

It elaborates that in India renewable energy offers very good opportunity for businesses to set and scale up industry, leapfrog technologies, and create volumes.  Some of India’s major immediate plans on renewable energy include scaling up cumulative installed capacity to 170 GW that includes 100 GW of solar power by 2022 and establishing a National University for Renewable Energy.

To provide a big push to solar energy, two new schemes — ‘Scheme for Development of Solar Parks………..

The Jawaharlal Nehru National Solar Mission launched in January 2010 seeks to establish India as a global leader in solar energy by creating policy conditions for its diffusion across the country. Installed capacity of Indian solar power in 2013-14 was 2647 MW. As per Bloomberg New Energy Finance/UNEP report, in 2013, there was a total investment of $6 billion in renewable energy in India.  http://economictimes.indiatimes.com/articleshow/46394697.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

February 28, 2015 - Posted by | India, renewable

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