2013-04-17

India will double its renewable energy capacity by 2017: PM

Prime Minister Manmohan Singh has said that India recognises the importance of evolving a low carbon strategy for inclusive and sustainable growth and will double renewable energy capacity by 2017. The prime minister was speaking at the Fourth Clean Energ

India will double its renewable energy capacity by 2017: PM

  Prime Minister Manmohan Singh has said that India recognises the importance of evolving a low carbon strategy for inclusive and sustainable growth and will double renewable energy capacity by 2017. The prime minister was speaking at the Fourth Clean Energy Ministerial event in New Delhi on Wednesday.

In his speech, he said, "We are also taking steps to exploit non-conventional clean energy sources such as solar and wind power, and also energy from the bio mass. It is proposed to double the renewable energy capacity in our country from 25,000 MW in 2012 to 55,000 MW by the year 2017."

The prime minister said the pace at which the country can expand its reliance on these new energy sources is constrained by the fact that they are more expensive than conventional energy but costs are expected to fall.

"The cost of solar energy for example has nearly halved over the last two years, though it remains higher than the cost of fossil fuel based electricity. If the cost imposed by carbon emissions is taken into account, then solar energy is more cost effective, but it is still more expensive," Singh added at the event.

The prime minister also said that the government is keen to ensure induction of the best technology and also encourage domestic production of the equipment needed.

He said, "India is potentially a large market for production of such equipment. It is also a potentially competitive and attractive production base for supplying other countries. We therefore strongly encourage global manufacturers to set up production facilities in this area."

India is hosting the fourth Clean Energy Ministerial (CEM4) on 17–18 April 2013. Energy ministers and other high-level delegates from more than 20 of the world’s leading economies are collaborating in the event to identify tangible steps that each government can take to generate more rapid progress toward accelerating the transition to a global clean energy economy.

Related opportunities
  • Department & Convenience Stores
    As pioneers in mainstream and ethnic retail in over 60..
    Locations looking for expansion Delhi
    Establishment year 2020
    Franchising Launch Date 2023
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi Delhi
  • Our aim is to become most reliable and sustainable business..
    Locations looking for expansion Delhi
    Establishment year 2023
    Franchising Launch Date 2023
    Investment size Rs. 5lakh - 10lakh
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Multi Cuisine Restaurant
    With over 23 years of hands on experience in Hospitality..
    Locations looking for expansion Punjab
    Establishment year 2011
    Franchising Launch Date 2021
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 2500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ludhiana Punjab
  • Bags & Luggage
    Kargha India started its operations in 2020, with the mission..
    Locations looking for expansion Uttar pradesh
    Establishment year 2020
    Franchising Launch Date 2023
    Investment size Rs. 10lakh - 20lakh
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Varanasi Uttar pradesh
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads