Indian renewables sector shows enormous potential for growth
India’s current installed renewable energy capacity, which stands at 15,789 megawatts, continues to be boosted by favorable government measures.
India is well-positioned to be a leader in the global renewable energy owing to huge untapped power generation capacity and government policies that promote clean energy, according to research firm Cygnus.
India’s current installed renewable energy capacity, which stands at 15,789 megawatts, continues to be boosted by favorable government measures.
But the country could aim for more. According to the new India-centered report, the country can still expand its power generation base largely due to renewable energy projects in the pipeline.
Developments in the solar, wind, hydropower and biofuels sector are particularly encouraging, Cygnus said.
The report states that investments are pouring into the country’s solar energy sector as the government actively promotes the sector. India has launched the Jawaharlal Nehru National Solar Mission in November 2009 to increase its solar energy capacity by 20,000 MW by 2022.
The wind energy sector is also showing robust growth, accounting for more than 70 percent of India’s total installed renewable energy generation capacity.
According to the report, 10,891 MW of wind energy capacity have been built in India as of October 2009, making the country the fifth biggest wind energy producer in the world.
The country is also poised to increase its hydropower generating capacity through the government’s 50,000-MW hydro initiative launched in 2003. The project aims to build 162 hydropower projects with a total capacity of 47,930 MW. Of the total, 77 which are underway will cover 37,000 MW.
Where to, biomass?
One thing to watch for in India’s renewable energy future is biofuels.
India started harnessing biofuels in 2003, in response to rising oil prices. Ethanol production is now integral to the biofuel sector. The Cygnus report points out that India has only been able to take advantage of around 35 percent of its biomass energy potential.
India has 1.16 billion people, second only to China in terms of population size, indicating an enormous – and growing – demand for energy and significant share in global greenhouse gas emissions.
Since 2007, the country has added 5,531 MW of renewable energy capacity. Of this, 3,857 MW came from wind; 704.20 MW from bagasse cogeneration; 619.53 MW from small hydropower; 322 MW from biomass; and 20.10 MW from waste-to-energy. Solar power contributed 8.10 MW.
Source: EcoSeed By Nuel Navarrete
