There have been a number of countries that have announced recent cooperation with India specially in the field of renewable energy in the last couple of months.
This was followed by Asian Development Bank (ADB) a couple of days back signing a joint venture agreement with India’s NTPC Ltd. and Kyushu Electric Power Company of Japan to develop and operate 500 megawatts of renewable energy projects in India in the next three years.
In November last year, the Norwegian government was in talks with the ministry of new and renewable energy (MNRE) to increase funding solar village electrification projects in states like Madhya Pradesh and Jharkhand.
Since in February this year, 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.
Since, India has gained international recognition for its efforts in Cleantech. “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.
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.
In a recent announcement, Indian ambassador S Jaishankar said,India would like to step up cooperation with China in energy sector, specially in the field of green technologies to boost trade ties, which in turn could help to build mutual trust to overcome differences.
New and renewable energy sources are expected to be one area where the two can cooperate to their mutual benefit, he told official China Daily on the eve of the BRICS summit being held in China a couple of days ago.
“We hope to discuss it at our first Strategic Economic Dialogue, slated for this year,” he said.
Strategic Economic Dialogue to coordinate macro-economic policies was made during Chinese Premier Wen Jiabao visit to India in December of last year.
India’s 12th Five Year Plan (2012-2016) calls for generating more power through renewable sources such as wind and solar power, he said, adding that China’s 12th Five Year Plan (2011-2015), also focuses on a greener approach to economic growth.
This is interesting as the Chinese wind turbine manufacturers have made silent entries into India. Sinovel was the first turbine manufacturer that had successfully installed its turbines in India.
KSK Energy Ventures had earlier mentioned that the company intends to procure 250 MW of wind turbines from Dongfang Electric Corporation Ltd of China.
Earlier this week Shanghai Electric had signed an agreement with KSK Energy of India to export 125 units of 2MW wind turbines to India.
The solar module manufacturers have also made a silent entry into India.