Renewable energy sector witnesses Rs 68,000 crore fund flow

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Renewable energy sector witnesses Rs 68,000 crore fund flow

 Discussions around renewable energy took centre stage at the CII Partnership Summit on Sunday, as Andhra Pradesh signed MoUs worth over Rs 68,000 crore for a host of projects in this area.

Speaking on the sidelines of the event, delegates stressed on the importance of this shift — from conventional to alternative forms of energy — with some of them certain of renewable energy production outdoing the former in the near future.
 
“Unlike in the past, this (renewable energy) is no longer a fringe player but a main source of energy, particularly wind and solar. Also, while so far there was thrust on using them because they were considered green energy sources, now they are also commercially viable. The tariff they attract is lesser than conventional sources of energy,” said JP Chalasani, group chief executive officer of Suzlon Energy Ltd, the largest market player in AP.

Predictably, a host of investors expressed their interest in making a foray into AP, with promises of conserving and providing clean energy, which would benefit the health of the region in the long run. Among them was Navi Mumbai-based Atomberg Technologies Pvt Ltd that, at present, manufactures 2.5 lakh ceiling fans in its in-house facility using BLDC (BrushLess Motor) mechanism.

“Unlike regular fans which become hot after running continuously, our fans do not. So, we optimise heat loss and thus save energy. Because a lot of our sales happen in the southern region, and Hyderabad is known as the fan hub, we are looking at AP as a strategic location to set up operations. We will start with sales and eventually have a manufacturing plant as well,” said Sibabrata, director of the firm, reiterating the need for energy conservation. His company is likely to sign a MoU on Monday regarding the same.

That India is in urgent need of clean air was upheld by Mariolein Helder of the Netherlands-based Plant-e as well, who has come to India with a plant-based technology to power lighting and irrigation projects. “When I landed in New Delhi, I realised how some of bigger cities are in dire need of a technology that would help clean the air. We hope to be able to do some work in that area soon,” she said.

News Source: Times of India

By | 2018-02-27T01:06:57+00:00 February 27th, 2018|News|Comments Off on Renewable energy sector witnesses Rs 68,000 crore fund flow
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