Domestic manufacturing key to the success of renewable energy

Excerpt from businesstoday.in

Getting it right on renewable energy is a long-term game. There is no debate on the opportunity, provided the challenges are met in time.

One potential hurdle is India’s ability to become a manufacturing hub. It will need a combination of high investments, access to good technology at an affordable price and a sound policy framework. None of this can be underestimated.

According to Gaurav Sood, CEO, Sprng Energy, a renewable energy platform set up by private equity fund Actis, India will need to be able to attract the investment by doing a few things right.

“We have to address key factors among which are domestic demand and export markets, help manufacturing become competitive, create an ecosystem for production of equipment, various raw materials/sub-components,” he says. That’s not all. He outlines the cost of financing, reliable and competitive power supply as other factors.