India is all set to emerge among the top five nations in G-20 group in terms of clean energy investments world wide and is likely to attract $ 169 billion in wind, solar, biomass, energy from waste,small hydro, geothermal and marine energy projects in the next decade.
According to"Global clean power a $ 2.3 trillion opportunity report brought out by the US based pew charitable Trusts, the annual clean energy investment in India is forecast to grow phenomenally over the next 10 years. Within the G-20 India is on track to climb from the tenth to the third place in terms of clean energy investment in India is forecast to grow phenomentally over the next 10 years. With in the G-20 India is on track to climb from the tenth to the third place in terms of clean power project investments world wide, the report said.
Enhanced clean energy policies would increase private investments in India by 48 percent, tied with the UK for the highest rate of increase in the G-20,the pew report said.It said under all policy scenarios, India,China,Japan and South Korea will account for 40 percent of clean power project investments over the next 10 years.
Over the next decade,India is projected energy generating capacity to 91GW, five times than what is currently installed.
Jawarharlal Nehru Solar Mission Programme was a huge step towards India entering the clean energy era. US based renewable energy company. Astrofield on Saturday said it would invest around $2-3 billion in bringing clean energy technologies to India during the next five years.
17 Indian states project a huge opportunity in renewable energy sector and huge investments were being lined up for this purpose. The states like Andra Prades ,Karnataka,Orissa and Gujarat are coming up with their own tariffs is very encouraging. This will help in attracting huge investments and create the right atmosphere for enhancing the share of clean energy in the total energy mix.
India has some of the best solar radiation levels in the world. The 5MW solar PV plant in Osiyan, Rajasthan,under the Jawaharlal Nehru National solar mission,will be the first solar projects. The plant will be set up 30 acres, a total of 185 acres has been secured under a long term lease to support a phase two build out of an additional 20 MW.
Prof.John Kurakar
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