Govt plans 10-nation consortium to boost renewable energy sector

In a bid to boost the generation of renewable energy in Karnataka, the State government is working towards evolving a consortium of about 10 countries that are blessed with abundant solar radiation, Chief Minister Siddaramaiah said.

Addressing a gathering during the inaugural function of Green Summit organised by Federation of Karnataka Chambers of Commerce and Industry (FKCCI) here on Thursday, the chief minister said, “This (the consortium) will aim to pool research and technological advancements in the field of solar energy, to improve its accessibility to the poorest of the poor and in the remotest of locations in Karnataka,” he said.

The three-day Green Summit 2015 aims at bringing the policy makers, industry representatives, investors, customers and other stakeholders on one platform to focus on current issues and future strategies in the renewable energy sector.

Participants from over 14 countries are participating in the three day event.There are challenges such as finance and duty structures which are impending the growth of renewable energy sector.

It requires a consistent policy over a long period of time and our government is committed in this regard, the chief minister assured.

Govt support assured

Assuring the government’s support, the chief minister said, “The target of 20 GW (giga watt) of capacity in the next five years has to be met and for this to happen, the decision making will be faster and the extension of incentives will be on top of the government’s agenda for the startups.”

Siddaramaiah urged the investors to support the State government's programmes and invest in the State to meet the additional energy targets. The dates for the Global Investors Meet will be announced soon, he added.

Sampathraman, President, FKCCI , said, “The aim of the summit is to promote the exchange of ideas and to bring all the stakeholders and policy makers on a common platform to address critical questions about the growth and widespread adoption of renewable energy”.

Consul General of Federal Republic of Germany Jorn Rohde released an industry research report titled “Future of Energy Conservation Market in India 2015” on the occasion.
The research report suggests the government agencies and corporates to develop an energy efficiency policy.  If energy efficient devices are adopted, the State can save Rs 3,750 crore annaully in power bills.