A slew of venture capital and private equity funds are raising money into clean-tech funds focused on Asia.
We had discussed earlier this year that most of the fund-raising in Renewable Energy and Cleantech in India is happening in mega project developments and developers.
Investors have also shown a lot of interest in this sector and the Indian cleantech sector has witnessed an investment of about $465 million from 2008.
In an interview to Financial Express, Rajiv Tikoo, Sheeraz Haji, CEO of Cleantech Group, gives an insight into the growing cleantech market worldwide and how India can take a leadership position irrespective of carbon markets.
What is it that can give Indian businesses an edge over the competition globally?
Indian businesses are among the strongest globally. They have deep energy and technology experiences that make them uniquely positioned to source innovation globally and use it to grow cleantech businesses in India. Indian businesses also have big opportunities to enter external cleantech markets, leveraging their IT know-how.
The renewable energy market is picking up faster in developing countries like India in contrast to Clean Development Mechanism market, which is suffering from uncertainty about its status post-2012. Do you see the approach to climate change shifting from carbon management to cleantech deployment?
I do. The biggest opportunities over the next decade and beyond will be in the emerging economies like India. This cuts across all segments of the cleantech landscape.