According to reports, the World Future Energy Summit 2012 being held at Abu Dhabi in January next will have a strong contingent from India, led by the New and Renewable Energy Minister, Dr Farooq Abdullah, and representatives from the Confederation of Indian Industry and players from renewable energy sector.
The event which has a concurrent exhibition will feature a India pavilion. It is expected to serve as a platform for potential cooperation with some of the companies in the renewable energy sector in particular. India has now been rated the fifth largest player in the renewable energy business and offers immense scope for mutual cooperation, Mr Naji El Haddad, Executive Director of Reed Exhibitions, said.
Speaking to Business Line during his visit to Solarcon India 2011, Mr Haddad said the theme “Powering Sustainable innovation” is intended to reflect the rapid rate of change the industry has experienced over the last five years and is continuing to experience globally. The event serves not only as a platform for entering into tie ups for new projects but explore opportunities to take up projects.
Business ties between Indian firms and companies located in West Asia have been strengthened in the recent past. Opportunities abound in solar power projects, other renewable energy sources and environment technologies, as per assessments by local Governments in West Asia.
Quoting a Cygnus report, Mr Haddad said investments are pouring into India’s solar energy sector including from West Asia due to active Government encouragement with new policy initiatives. While India’s installed capacity of renewable energy is estimated at 16,000 MW, about 6,000 MW was added in the last three years, reflecting the rapid pace of growth.