Renewable energy attracts more investments

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According to a report by 3i Network-IDFC, India has the macro drivers and a clear edge to be a key clean energy market for private equity investors. Private equity investment in the renewable energy sector has picked up pace from 2004, with Citigroup Venture Capital’s US$ 22.5 million investment in Suzlon Energy. The report says that from a private equity investment of US$ 851 million in 2005, inflows into the renewable sector in India soared to US$ 2136 million in 2008.

Globally also, investments in clean energy have been growing at a compounded annual rate of 36 per cent, reaching about US$ 19 billion in 2009.

The large potential for clean energy investments in India, along with local technical competence and cost advantages, have been attributed as the main reasons for India to be a hub to supply other global markets.

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