India renewables report Q1 2013 solar energy policy aimed at stimulating investment in the solar sector

Friday, Jan 04, 2013

Research and Markets (http://www.researchandmarkets.com/research/pjfxq9/india_renewables) has announced the addition of the "India Renewables Report Q1 2013" report to their offering.

India's push for non-hydro renewables development is a reflection of the country's desire to diversify its electricity mix away from environmentally unsustainable coal and costly thermal imports.

The country has already taken considerable steps towards increasing renewables capacity and meeting its target. The renewables segment remains a relatively attractive market for private investors, attracting more interest than thermal sources. However, a number of sector-specific risks could hinder the development of the industry, along with the opaque business environment and insufficient investment in the country's power infrastructure.

Key developments and trends witnessed in the Renewables industry include:

- The Indian state of Chhattisgarh revealed plans in October 2012 to attract INR100bn (US$1.86bn) worth of investments in the solar energy sector over the next few years. The government also announced that the sector has huge potential to provide large scale employment with a solar energy plant, capable of creating around 500 jobs.

Channelling investment into the country's power network is crucial for the successful adoption of renewables.

- The state of Andhra Pradesh in India has introduced its first solar energy policy in late-September 2012. The policy is aimed at stimulating investment in the solar sector and offers solar power projects completed by June 2014 benefits such as refunds on taxes paid for equipment, land duty, and registration charges for seven years.

- US investment bank Morgan Stanley (MS) announced its intention to purchase Indian real estate developer DLF's wind power business in August 2012. Besides MS, several Indian companies, including Bharat Light and Power and Mytrah Energy, have expressed interest in the purchase.

- The state of Gujarat intends to spend INR250mn (US$4.8mn) to help develop the nation's first tidal-energy project. The project, a 50MW plant at the Gulf of Kutch, will be developed by tidalturbine maker Atlantis Resource Corporation.

Source: Business Wire