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India takes a big leap in renewable energy

The United Nations listed India as the fifth biggest wind and solar water heating energy producer in a report released on Friday.

delhi Updated: Jul 16, 2010 23:58 IST
Chetan Chauhan

The United Nations listed India as the fifth biggest wind and solar water heating energy producer in a report released on Friday.

The report, Global Trends in Green Energy 2009, says the developing world is taking a lead in adopting new renewable technologies. For the first time, private sector green energy investments in Asia and Oceania, some $40.8 billion in 2009, exceeded that in the Americas, at $32.3 billion, the report said.

"Manufacturing leadership is shifting from Europe to Asia, as countries like China, India and South Korea continue to increase their commitments to renewable energy," it said.

The report also says the developing nations have more than half of global renewable power capacity and make up nearly half of all countries with policy targets (38 out of 80 countries).

It acknowledges the Indian government's efforts in giving incentives to renewable energy through its missions under the National Action Plan on Climate Change.

Like India, global investment in energy efficiency technologies witnessed a 34 per cent increase to $ 4 billion.

"For the first time, energy-smart technologies attracted more venture capital and private equity investment than any other clean energy sector," the report said.

The report also said that for the second year in a row, both the US and Europe generated more power capacity from renewable sources such as wind than from conventional sources like coal and gas.