Apr 18, 2007, 17:45 GMT
Chennai, April 18 (IANS) India is contemplating a system of trading green certificates to enable industries located in one state to tap the renewable energy potential of other states, a senior government official said here Wednesday.
He was speaking at an interactive session between the US and Indian energy experts organised by the Confederation of Indian Industry here.
There is 'a huge scope for India and the US to exchange information, transfer technology, enhance bilateral trade and investment in green power', said David Bohigian, US assistant secretary of commerce for market access and compliance, US Department of Commerce, during his CII address.
At the interactive session Bohigian also said that 'both countries should work together in developing global standards in green trades, clean technologies and policies'.
He noted that the economies of India and China are expected to be 'among the largest in the world by as early as 2020' and added that 'there is an urgent need for these countries to plan for the growth of their energy sector in such a way that it would meet the global demands of the future.'
Talking on India's renewable energy policy, V. Subramanian, secretary, ministry of new and renewable energy, said that India has state regulatory commissions and a strong legal set-up to promote and govern the fast-growing renewable energy sector.
He pointed out, 'There is a requirement for exclusive laws to deal with the standards pertaining to a mix of ethanol and gasoline in fuels.'
He added that the government was working on schemes to help small and medium enterprises (SMEs) in green power attract latest technologies and global funding.
Talking about the business opportunities in the renewable energy sector in India, Ramesh Kymal, chairman Renewable Energy Council of CII (Godrej GBC) and managing director Vestas Wind Technology India (P) Ltd said, 'India is poised to become a world leader in renewable energy technology and generation. The country has a $30 billion business opportunity in green power.'
'The government of India has set an ambitious target to generate 10,000 MW of additional power from renewable energy sources by 2012.'
He said that at present the renewable energy sector contributes to 7 percent of installed capacity and accounts for 2 percent of supply to grids.
He also pointed out that India is one among the six partner countries of Asia Pacific Partnership for Clean Development and Climate, a recent initiative that aims at reducing greenhouse gas emissions.
'This initiative would greatly help Indian companies access clean technologies from partner countries,' Kymal said.
© 2007 Indo-Asian News Service
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