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Cleantech Switzerland companies eye $2 billion Renewable Energy market in India

India has gained international recognition for its efforts in Cleantech. Earlier this year, Tulsi Tanti, the chairman and managing director of Suzlon, was invited to speak  at The Wall Street Journal’s ECO:nomics conference in Santa Barbara, California and he talked about the four rules that cleantech companies have to follow to make it big.

As Panchabuta had earlier mentioned, World Bank  and International Finance Corporation (IFC), have mentioned that they will double loans given to renewable energy projects to $2 billion (Rs9,103 crore) in the next three years in India.

Further a number of groups including “Cleantech Finland” a group of companies from Finland have shown interest in setting up based in India and those that did include The Switch and Moventas. The Cleantech Finland group has been one of the more succesful initiatives in India and Panchabuta has personally met with a number of those companies.

A few days ago, the Canada China Business Council and the Canada-India Business Council announced that they are hosting a Cleantech Forum for the first time in which representatives from China, India and Canada will be participating.

According to reports, the Indian market potential for Swiss entities that are into renewable energy and water technology areas could reach up to USD 2 billion, according to a Swiss business group official.

Many Swiss entities are into the fast-growing clean energy sector and are looking for business opportunities in India.

“Market potential that is addressable by Swiss companies could reach up to USD 1-2 billion. (The figure is) Market volume in renewable, solar and water segment technologies,” Cleantech Switzerland” President Uwe Krueger told PTI.

A Swiss government-sponsored entity, Cleantech Switzerland provides an export platform for Swiss cleantech players.

Without divulging details, Krueger said that now there are projects — related to water technology areas in India — — worth about 20 million Swiss francs in the pipeline.

Krueger was here as part of the business delegation that accompanied Swiss Head of the Federal Department of Economic Affairs Johann Schneider-Ammann.

He noted that power generation from “decentralised sources” such as wind power turbines and solar farms would provide huge investment potential in countries, including India, especially, in terms of upgrading the existing electricity grids.

Cleantech Switzerland has also entered into an agreement with the Confederation of Indian Industry (CII) to explore business opportunities in the clean energy sector for both Indian and Swiss entities.

The focus would be on renewable energies and efficiency, water and waste water utilisation and environmental technologies.

The agreement was inked between Krueger and S Raghupathy. Senior Director and Head (Godrej Green Business Centre) at CII last week.

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