Economy & Policy: "Call for comprehensive renewable energy policy
Our Regional Bureau / Chennai June 27, 2005
To leverage and enhance the potential of renewable energy, there is an urgent need for a �comprehensive national-level renewable energy policy�, said Ramesh Kymal, chairman, renewable energy council.
He was addressing �Green Power 2005�, an international conference-cum-exposition on renewable energy in Chennai.
Kymal said that the annual turnover of renewable energy sector in India is about Rs 5,000 crore and is expected to grow at a much rapid pace.
India has overtaken Denmark in wind energy generation occupying the fourth place in the world. Last year, the country added 1,100 MW capacity.
Kymal pointed out that India should take a leaf out of China�s approach and progress on the renewable energy front.
A consistent policy is crucial for the development of this sector which can address long-term power purchase agreement, and tariff in order to attract more corporate investments in the sector, he added.
In terms of investment on renewable energy, China is behind India. However, it is surging ahead with a plan of generating 20,000 MW by the year 2012 in contrast to India�s vision which is to add 10,000 MW in the next seven years. China had already enacted the Renewable Energy Policy.
It is estimated that the potential for wind power is about 45,000 MW of which India has been able to harness 3,600 MW so far. India ranks fourth in bio-mass and tenth in the world in small hydro power sector. "
