India is expected to add 39,133.27 MW renewable installed capacity by 2022 presenting huge opportunities of investments in this sector.
Bangalore, Karnataka -- (SBWIRE) -- 09/03/2014 -- While briefing the Canadian trade delegation during an event organized by Canadian Consulate General in Bangalore, Ambarish Kumar Verma, Chief Executive Officer at NOVONOUS mentioned that “Indian renewable energy sector is expected to reach 72.40 GW installed capacity by 2022 which will result in an investment of US$ 81.44 billion in the Indian renewable energy sector.”
NOVONOUS has recently launched detailed market research reports on renewable energy sector in India and found that the wind energy and solar energy sectors are going to lead the way when it comes to renewable capacity additions. As of 31st July, 2014 India had wind energy installed capacity of 21,692.98 MW and it has planned to achieve 38,500 MW installed capacity by 2022.
On the solar front the installed capacity was 2,753 MW as of 31st July 2014. India has planned to increase its solar energy installed capacity in big way and achieve 20,000 MW installed capacity by 2022.
“The Indian solar energy sector will see investments worth US$ 41.73 billion by 2022. Indian wind energy sector on the other hand will see investments worth USD 30.31 billion by 2022”, added Ambarish.
This represents huge opportunities for local and foreign players in Indian renewable energy sector to collaborate and explore possibilities of commercial and technical partnerships.
The participating companies from the Canadian delegation were Alpha Technologies, Ballard Power, Canadian Solar, Fugesco, Idenergie, IREQ, Montreal Nuclear Services, New Dawn Energy Solutions, NuWorld, OPAL-RT Technologies, Simon Fraser University, Vizimax, Windular Research and Technologies Inc etc.
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