US for India's self-sufficiency in energy
Cooperation in energy is in the best interests of US and India, which are working towards providing assistance to each other, said a US envoy.Updated: May 02, 2006 17:47 IST
Cooperation in energy is in the best interests of the US and India, which are working towards evolving points on which they would provide assistance to each other, said a US envoy on Tuesday.
"Helping India reach its business potential for energy savings is in the US' interest for environmental and security reasons," said Robert O Blake, the US deputy chief of mission.
"Both the countries recognise their mutual interest and are best served by working together in a collaborative fashion to ensure stability in the global energy market," Blake said at a conference on US-India energy efficiency organised by the Confederation of Indian Industry (CII).
Addressing the gathering, Indian Power Secretary RV Shahi said, "India would be looking at increased trade and investment in the energy sector by working with the public and private sectors to further identify areas of cooperation."
The two-day conference would try to identify areas of cooperation between the two countries.
India currently ranks sixth in terms of primary energy demand. Given that it aims for a GDP growth of 8-10 per cent in the next couple of decades, it needs to increase its energy supplies by three to four times and electricity generation by five to seven times as per conservative estimates.
The country at the moment generates 120,000 MW. Recent studies have shown that its electricity shortages amounted to eight per cent of energy demand and power shortages to 11.6 per cent of peak demand between April 2005 and January this year.
The conference would explore the barriers to implementation of energy efficiency in India, illustrate ways in which such barriers are overcome and delineate approaches of how energy efficiency markets could be triggered in India in the buildings and the industrial sectors.
First Published: May 02, 2006 17:37 IST