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| India seeks foreign investors for renewables industry zone |
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| Wednesday, 28 June 2006 | |
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India is looking for foreign companies to invest in the new 'Special Economic Zone', an large industrial estate on the outskirts of Delhi dedicated to the manufacture of renewable energy equipment and a base for research and development in renewables technology.
The minister responsible for non-conventional energy will finalise a draft policy on new and renewable sources of energy by the end of this year.
The policy will aim to provide a long-term vision for the development of non-conventional sources of energy as a viable substitute for fossil fuels in India.
The government has set a target of 15% of total power generation to be derived from grid-connected renewables by 2012.
15,000 mw power is expected to be generated from renewable sources in the 11th plan period for this purpose (ed: each 'plan period' is 5 years. The Indian government decides on which infrastructure targets will be reached during that period, and budgets accordingly).
By the year 2030, the target is to generate 20% to 30% of power from renewable sources.
In the present 'tenth plan period' (2002-07) up to March 31, 2006, 8,088 MW of power has been generated from renewable sources, which is 7% of the total power generation capacity in India.
In the year 2006-07, the target is to generate 2,000 MW power from renewable energy sources with an investment of Rs 10,000 crore (USD $21 million), out of which 1,500 mw power is expected to be generated from wind energy.
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