According to reports, Finnish companies have so far invested over one billion euro in India in sectors such as environment and energy. And the one entity which is facilitating this huge endeavour to help India reduce its dependence on conventional sources of energy is Cleantech Finland, a network of Finnish cleantech experts, and the Finnish Funding Agency for Technology and Innovation, ‘Tekes’.
The immensity of the potential of power generation through renewable sources of energy in India can be gauged from the fact that India’s National Action Plan on Climate Change has laid out a target of generating 15% of total power from renewable sources by 2020, starting with 5% in 2010.
As the various missions under the NAPCC are being implemented it presents a unique opportunity for Finnish SME’s with decades of experience and expertise in the realms of Cleantech to participate with Indian companies that provide market expertise and scale to create winning partnerships.
Currently, India’s energy consumption is the fifth largest in the world and it exceeds production by 12.7%. Rapid economic and population growth mean that the need for energy will continue to grow in the future, so the challenge is to increase both energy production and energy efficiency.
Finland can play crucial role to bridge this gap between demand and supply and its importance was well understood by the recent statement made by Dr. Farooq Abdullah, Minister for New and Renewable Energy, Government of India, during his recent visit to Finland in which he said that he was particularly interested in hearing about solutions that Cleantech Finland member companies have for the most important energy questions facing India.
Similarly according to Ms Mari Pantsar-Kallio, Director at the Ministry of Employment and Economy of Finland, “Finland has high expectations for future cooperation with India. There is a lot of development potential in our bilateral trade, industrial and R&D&I cooperation. Renewable energy and clean technologies are one of the most promising cooperation areas.”