According to this report, top global business leaders from leading renewable energy firms discussed the key drivers to step up investment in developing countries like India and China at the World Future Energy Summit 2011 Business Forum.
Speaking at the Business Leaders in Renewable Energy session, Rene Umlauft, CEO Renewable Energy, Siemens, Germany, highlighted the advantages that developing countries hold the development of modern smart grid technologies that deliver electricity from suppliers to consumers using two-way digital communications to control appliances at consumers” homes – because they are a ”clean sheet”.
This means that they can ”leapfrog” the problems that developed countries have because they have no existing infrastructure to replace, Umlauft said.
The session also held discussion on the positive investment outlook for renewable energy in developing countries such as India, China and Brazil, as well as those in the MENA region.
The panel suggested that the focus of near term global investment in renewable energy will take place in less developed economies, citing the opportunities that wind energy possesses in these regions.