Quanta Consulting has a strong focus on renewable energy
opportunities and markets. India's rural heartland is
significantly underserved and has a presents a clear need for
off-the-grid solutions.
Macro projects have gotten a big boost from the Government of
India and state governments. Micro products that can be deployed
at local levels are a hot topic - with ample funding and
investment. Broader investments in cleaner traditional energy
generation are a good middle ground for the significant needs of
a high growth country like India.
There is tremendous opportunity in the India market across
both traditional energy sources and the newer emphasis on solar,
wind, biomass among other new viable technologies. A combination
of the old and the new are required in meeting the rapidly
growing energy needs in India.
India's ambitious solar energy mission aims to generate
20,000 MW of solar power by 2022, as announced by the Indian
Prime Minister. India's National Clean Energy Fund provides
financial support for research and innovative projects in clean
technologies.
India's energy consumption growth will likely be substantial in
the coming decade. Currently, more than 40% of India's
households do not have access to electricity. According to the
Indian government's Integrated Energy Policy, India needs to
sustain an economic growth rate of between 8% and 10% over the
next 25 years to eliminate poverty and meet human development
goals.
Wind power contributes approximately 70% of India's generation
capacity from renewable sources of energy. Hydropower provides
24.4% of India's generation capacity. While the role of
hydroelectric power in India does not seem large, it meets the
power needs of off-the-grid areas.
Source: Economic Times and Business Insight. Picture courtesy GreenBeat.