India is set to establish Renewable Energy Export Promotion Council, a national promotional body for export services and products in renewable energy, with an eye on new markets globally, including in the Middle East region.
After emerging as a leader in the International Solar Alliance (ISA), a government-to-government initiative for faster development of solar power globally, the export body will promote Indian private sector developers of solar and wind energy in overseas markets.
The proposal to set up the renewable energy export body is an initiative by Pranav Mehta, chairman of the Washington DC-based Global Solar Council. It's currently with India’s commerce and industry ministry awaiting government approval.
“We have received a positive response from the commerce minister and is currently waiting for formal approval from the ministry for our proposal on setting up the renewable energy export promotion council,” Pranav Mehta told Arabian Business.
The Gulf market, especially the UAE and Saudi Arabia, could be among the potential markets for the new body.
Saudi Arabia alone has set a target of achieving 25 GW of solar and wind power in the next 5 years.
The kingdom just issued expression of interests for seven solar projects, with a combined generation capacity of 1.51 GW.
Though there may not be a direct participation by any of the Indian companies in the current round of bidding for the Saudi solar projects, some of the companies are expected to join hands with international companies for bagging EPC contracts for these projects, according to industry sources in India.
Conceived on the lines of Indian gems and jewellery promotion council, the proposed export body plans to bring all Indian developers and producers of solar panels, wind mills, turbines and other products under one roof for a global push.
“India may be importing some of the products in solar and wind energy from China currently. However, there are companies in India which manufacture these products, both in large and small scale, which have a lot of potential for exports,” Mehta said.
The Washington DC-based Global Solar Council, an international body of private players in the solar power industry, of which Pranav Mehta is the chairman, works in close collaboration with international bodies such as the UN-backed Abu Dhabi-based IRENA (International Renewable Energy Agency) and several regional associations and industry groups, including Jordan-based Renewable Energy Society.
“Since Indian solar and renewable energy industry has gained immense expertise by setting up several mega projects as well as small projects, including innumerable number of projects in roof top solar segment, our companies will be able to help other countries, especially in the Middle East and Africa regions, in their efforts to promote renewable energy in a big way,” Mehta said.
India has set a target of achieving 175 GW of installed capacity of renewable energy by 2022 – 100 GW of solar power and 75 GW of wind power - making it among the top five countries in the world in making investments in the sector.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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