Time for Us to Work on the Real Source of En­ergy, So­lar En­ergy': Suresh Prabhu

FICCI Business Digest - - Contents -

There is im­mense scope for in­no­va­tion and growth in the so­lar in­dus­try glob­ally due to the grow­ing de­mand for sus­tain­able en­ergy so­lu­tions and the gov­ern­ment wants to pro­mote it in a ma­jor way said Suresh Prabhu, Min­is­ter of Com­merce & In­dus­try and Civil Avi­a­tion.

He was ad­dress­ing the In­ter­na­tional So­lar Al­lianceIn­no­va­tion and In­vest­ment Fo­rum (ISA-IIF), or­gan­ised by FICCI un­der the aegis of In­ter­na­tional So­lar Al­liance (ISA) with sup­port of In­vest In­dia.

'Tech­nol­ogy in­no­va­tion and in­vest­ment at­trac­tive­ness is the key to scaling up the ca­pac­ity of so­lar en­ergy. Scaling up the ca­pac­ity of so­lar en­ergy will even­tu­ally bring down the prices. How­ever, to scale up the ca­pac­ity we need al­liance like ISA, which will ben­e­fit ev­ery­body. The Global Lead­er­ship Task Force of Cor­po­rates on In­no­va­tion con­sti­tuted by ISA has been set up to bring in­no­va­tive tech­nolo­gies and fi­nance and the task force will work with full force to com­plete this task. We are happy to work with all coun­tries to make so­lar en­ergy be­come a re­al­ity for ev­ery­body,' he added.

Ad­dress­ing the open­ing ses­sion of the fo­rum, Upen­dra Tri­pa­thy, In­terim Di­rec­tor Gen­eral, In­ter­na­tional So­lar Al­liance said, 'In­vest­ment and in­no­va­tion is the key to progress and the Global Lead­er­ship Task Force of Cor­po­rates on In­no­va­tion is mak­ing sub­stan­tial progress.' This fo­rum will be a good plat­form to at­tract so­lar in­vest­ments in ISA mem­ber coun­tries, and added, 'No ci­ti­zen in the world will be left with­out ac­cess to elec­tric­ity and light.'

Sushil Ji­wara­jka, Mem­ber, FICCI Na­tional Ex­ec­u­tive Com­mit­tee and Chair­man, OMC Power speak­ing about his ex­pe­ri­ence of set­ting up mini-grids project in ru­ral ar­eas laid em­pha­sis on land ac­qui­si­tion and pre­dictable pol­icy and reg­u­la­tion.

Manoj Kohli, Ex­ec­u­tive Chair­man, SB En­ergy, speak­ing about the im­por­tance of stan­dard­i­s­a­tion for so­lar en­ergy, said, it is very im­por­tant to stan­dard­ise equip­ment, tech­nol­ogy and pro­cesses for large scale de­ploy­ment of so­lar en­ergy and no in­dus­try can suc­ceed with­out stan­dard­i­s­a­tion.

Over 160 par­tic­i­pants from the so­lar in­dus­try in­clud­ing global in­vestors, banks, fi­nan­cial in­sti­tu­tions, coun­try rep­re­sen­ta­tives and project de­vel­op­ers at­tended the ISA-IIF. The ob­jec­tive of the fo­rum was to high­light ar­eas of in­vest­ment at­trac­tive­ness for so­lar de­ploy­ment in the ISA mem­ber coun­tries and ways to ad­dress the fi­nan­cial and reg­u­la­tory bot­tle­necks. The fo­rum also high­lighted in­no­va­tions for so­lar tech­nol­ogy de­ploy­ment in ISA mem­ber coun­tries and in­vest­ments needed for such in­no­va­tions.

Coun­try pre­sen­ta­tions were made by Guyana, Ghana, Peru, Rwanda and Tonga high­light­ing case stud­ies and best prac­tices of their gov­ern­ment's sup­port and in­cen­tives for so­lar en­ergy in­vest­ments. A to­tal of 16 coun­tries par­tic­i­pated in the fo­rum, in­clud­ing Aus­tralia, Comoros, Cuba, Fiji, France, Guinea, Guyana, Mau­ri­tius, Mali, Monaco, Nauru, Niger, Rwanda and Sri Lanka.

Con­sti­tuted in March 2018 by ISA, the Global Lead­er­ship Task Force of Cor­po­rates on In­no­va­tion aims to ad­dress com­mon chal­lenges and em­bark on prac­ti­cal ac­tion for in­no­va­tion to cre­ate trans­for­ma­tional im­pact in ISA mem­ber coun­tries. The task force is chaired by Masayoshi Son, Chair­man & CEO, SoftBank Group and the mem­bers of the task force in­clude GE, GCL, LG Chem, OMC Power, SMA and State Bank of In­dia, TO­TAL and Trina So­lar. FICCI is the sec­re­tar­iat and con­vener of the task force.

Suresh Prabhu, Min­is­ter of Com­merce & In­dus­try and Civil Avi­a­tion.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.