Last September EQO organized a mission trip to India to follow up new upcoming opportunities in the field of renewable energy in what is today one of the most attractive markets in the field of renewable energy.
According to Ernst & Young Renewable Energy Market Attractiveness Index, India is the third most attractive market in the world, which is a big improvement within the last two years. India’s push for clean energy comes ahead of the United Nations Conference on Climate Change in Paris at the end of this year. Most nations have already submitted their specific climate action plans, and India is supposed to do so soon.
India has one of the most aggressive clean energy goals of any nation in the world, with a plan to have 100 gigawatts of solar capacity installed by 2022, which is a five-fold increase from the previous government’s target goal. A large portion of the installations would be through rooftop solar power systems, which is a critical aspect to bringing electricity to rural areas.
Amid this scenario Agustí Seguer, EQO’s energy focal point, traveled to India to meet with representatives from the Asian Development Bank (ADB) in Delhi, as well as some strategic partners and experts whom with EQO cooperates regularly to explore new opportunities. Seguer seized the visit to present the array of services that EQO is providing in the field of renewable energy, putting special emphasis on the studies on bankability of renewable energy projects, studies that experiencing an increasing importance and demand by international donor institutions.
“India is having a renewable energy momentum. During financial year 2014-2015 India added 4,089 MW renewable energy capacity, a capacity addition of 8.5% more than the targeted figure of 3,770 MW. By the end of June 2015, India had 4 gigawatts total of solar capacity. India as a whole has massive solar power potential. According to the National Institute of Solar Energy in India, up to 750 GWs“, states Seguer. “It is therefore a good moment to keep an eye on what is happening in the country”
EQO, as an active player in the field of International technical assistance field in the renewable energy sector, has carried out several projects in India including consulting services for a study of local capabilities to manufacture and supply components for development of Concentrating Solar Thermal Power plants; and assistance on design of technical specifications and tender evaluation criteria for concentrating solar power projects in the country.