According to reports, France is keen on partnering with Indian industry in the renewable energy sector, particularly solar energy, according to the Ambassador of France to India, Francois Richier.
Addressing an event to showcase French companies catering to solar energy products, Richier said France will also consider ‘financial instruments’ to encourage solar energy with the permission of the Union Government.
The move into solar energy in partnership with India is an extension of the countries’ relationship in conventional energy including thermal and nuclear energy, and collaboration in areas of urban development.
French companies have invested over $18 billion in India – as much as they have in China – with more than one-third of it in Tamil Nadu.
Some of the largest investments including Michelin tyres, which is to start production soon, Saint Gobain and Areva have been made in Tamil Nadu, he said.
The Tamil Nadu Energy Secretary, Rajesh Lakhoni, said Tamil Nadu has a dedicated solar energy policy to encourage exploitation of the renewable energy.
With over 7,930 MW of renewable energy capacity, including wind and biomass, the State is a leader in clean energy.
The State is targeting establishment of 3,000 MW of solar power projects over the next three years. The state utility has tied up power purchase agreements for 698 MW of solar power.