India to double renewable energy capacity by 2017
Updated: Apr 17, 2013 03:44:58pm
New Delhi, Apr 17 (KNN) India will more than double its renewable energy capacity by exploiting non-conventional clean energy sources such as solar, wind power, energy and bio mass, said Prime Minister Manmohan Singh.
Addressing the fourth Clean Energy Ministerial (CEM4) beginning today in the capital, “It is proposed to double the renewable energy capacity in our country from 25000 MW in 2012 to 55000 MW by the year 2017,” he said.
He also said market forces alone will not provide sufficient financing for green energy, unless the risks of policy change were appropriately addressed.
"For the moment, green energy is not viable on its own without subsidy or regulatory incentives. Investors obviously need assurance that these incentives will continue," he said.
Further, a national institute of solar energy with a global level R and D centre will be in position by 2015.
“India’s wind potential in both onshore and offshore areas is being re-assessed to draw a long term plan for exploiting this source of energy. It appears that our potential for harnessing wind power is much larger than was earlier anticipated, though the potential is concentrated in certain parts of our country, Singh said.
The 12th Five Year Plan according to Singh recognises the importance of evolving a low carbon strategy for inclusive and sustainable growth. “We have set ourselves a national target of increasing the efficiency of energy use to bring about a 20 to 25 per cent reduction in the energy intensity of our GDP by 2020.
“The Plan also envisages an expanded role for clean energy, including traditional sources of clean energy such as hydel power and non-conventional sources such as solar and wind power,” he added.
India’s energy strategy has included the full exploitation of hydel power, despite the environmental limitations owing to submergence of forest and the need to rehabilitate affected populations. “We will work to resolve these problems,” PM said.
Energy ministers from more than 20 of the world’s leading economies are currently in the capital for the fourth Clean Energy Ministerial (CEM4) beginning today to help bring about a global clean energy economy.
“The discussions will focus on identifying smart policies, programs, and innovative strategies to increase energy efficiency, enhance clean energy supply, and expand energy access,” said an official statement from the CEM secretariat.
India for the first time is playing host to the energy ministers and other high level delegates of the ministerial who will collaborate to identify tangible steps that each government can take to accelerate progress towards CEMs overall goal.
Expectations are rife that new commitments to advance goals for a clean energy economy from participating governments and from the year-round work that has taken place through some of the 13 CEM initiatives will be announced at the end of the ministerial.
The International Energy Agency (IEA) will release the 2013 version of its Tracking Clean Energy Progress report and Bloomberg New Energy Finance (BNEF) will present the status of clean energy investment trends around the world during CEM4.
A highlight of the event are the public-private roundtables that will address six clean energy theme such as Solar PV: Reducing soft costs; Clean vehicle adoption; power markets in emerging economies, renewable policy and finance; energy management systems; and mini-grid development.
CEM4 will also provide opportunities for stakeholder engagement with side events. Among them is an innovation showcase pavilion, women in clean energy event and an awards ceremony. (KNN)
Addressing the fourth Clean Energy Ministerial (CEM4) beginning today in the capital, “It is proposed to double the renewable energy capacity in our country from 25000 MW in 2012 to 55000 MW by the year 2017,” he said.
He also said market forces alone will not provide sufficient financing for green energy, unless the risks of policy change were appropriately addressed.
"For the moment, green energy is not viable on its own without subsidy or regulatory incentives. Investors obviously need assurance that these incentives will continue," he said.
Further, a national institute of solar energy with a global level R and D centre will be in position by 2015.
“India’s wind potential in both onshore and offshore areas is being re-assessed to draw a long term plan for exploiting this source of energy. It appears that our potential for harnessing wind power is much larger than was earlier anticipated, though the potential is concentrated in certain parts of our country, Singh said.
The 12th Five Year Plan according to Singh recognises the importance of evolving a low carbon strategy for inclusive and sustainable growth. “We have set ourselves a national target of increasing the efficiency of energy use to bring about a 20 to 25 per cent reduction in the energy intensity of our GDP by 2020.
“The Plan also envisages an expanded role for clean energy, including traditional sources of clean energy such as hydel power and non-conventional sources such as solar and wind power,” he added.
India’s energy strategy has included the full exploitation of hydel power, despite the environmental limitations owing to submergence of forest and the need to rehabilitate affected populations. “We will work to resolve these problems,” PM said.
Energy ministers from more than 20 of the world’s leading economies are currently in the capital for the fourth Clean Energy Ministerial (CEM4) beginning today to help bring about a global clean energy economy.
“The discussions will focus on identifying smart policies, programs, and innovative strategies to increase energy efficiency, enhance clean energy supply, and expand energy access,” said an official statement from the CEM secretariat.
India for the first time is playing host to the energy ministers and other high level delegates of the ministerial who will collaborate to identify tangible steps that each government can take to accelerate progress towards CEMs overall goal.
Expectations are rife that new commitments to advance goals for a clean energy economy from participating governments and from the year-round work that has taken place through some of the 13 CEM initiatives will be announced at the end of the ministerial.
The International Energy Agency (IEA) will release the 2013 version of its Tracking Clean Energy Progress report and Bloomberg New Energy Finance (BNEF) will present the status of clean energy investment trends around the world during CEM4.
A highlight of the event are the public-private roundtables that will address six clean energy theme such as Solar PV: Reducing soft costs; Clean vehicle adoption; power markets in emerging economies, renewable policy and finance; energy management systems; and mini-grid development.
CEM4 will also provide opportunities for stakeholder engagement with side events. Among them is an innovation showcase pavilion, women in clean energy event and an awards ceremony. (KNN)
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