India is the second largest growing economy in the world today. However, it has been grappling with a shortage of power supply which has been compounded through limited sources of conventional power sources. There is a solution to this problem through the proper utilisation of renewable resources which the country possesses in abundance. In order to harness these resources, US companies are planning to foray in India to sign business ventures worth million euros. These companies will be signing deals for the generation of around 450 GW of energy which will be utilised by 16 Indian states.
Us company are investing heavily in India towards the development of renewable energy sources to reduce the consumption of fossil fuels.
The country has 10000MW renewable energy capacity. Maharashtra alone possesses 3000MW of capacity. And As per National Solar Mission, by 2020 target is to achieve 20000MW of energy to be generated which is the exactly double to current position. Speaking to the press at Renewtech India 2011, Dr. N P Singh (Advisor to the ministry New Renewable energy. GOI). Says “this Budget Session for R&D of renewable energy GOI. has kept Rs.1000 Cr to fund for the betterment of this program. Northern states including J&K have 10 project under this program is to be setup, out of those, 2 have already started. Power generated from this system will provide electricity in remote area of rural India.
GOI. Is also ambitious to set up solar power plant for telecom tower. Major Pvt. and Govt. Sector Telecom Companies including Bharti, BSNL,Reliance Communication are looking to utilize this system to reduce its operating cost up to 30% added Dr Singh.