Friday, August 16, 2013: In a bid to make India energy efficient, the government is almost ready to start a planned investment of US$7.9 Billion for solar-ready grid. According to Secretary of the Ministry of New and Renewable Energy, out of a committed total of €1 billion (US$1.33 billion) meant for Indian grid improvements, the first €250 million (US$332 million) of investment is supposed to come from the German Development Bank KfW, as told to Businessweek. He also stated that apart from the World Bank, Asian Development Bank, the country’s own National Electricity Fund as well as local governments will be contributing towards the programme.
Earlier in 2012, the country witnessed huge blackouts that rendered 700 million without power. Moreover, the World Bank points out that nearly 400 Million people in India have no access to electricity. Therefore, various on and off-grid projects are in the pipeline. Rural communities will be greatly benefited by off-grid solar.
Agreement between the two countries, India and Germany in April 2013 with regard to renewable energy will strengthen economic ties. Recently, a German company Solea signed a deal to build a 100MW solar farm in Tamil Nadu. Report by Greenpeace and consultancy Bridge to India stated that Delhi could possibly reach 2GW of rooftop solar by 2020 in case there was a change in the regulatory environment.
Electronics Bazaar, South Asia’s No.1 Electronics B2B magazine
