India to spend $2.3 trillion on energy efficiency

By admin • October 13th, 2010

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India is planning on improving its energy sector by spending $2.3 trillion on methods to improve energy efficiency and to use clean technology by 2030. For the short-term India will have to keep using cheaper fossil fuel in order to expand the reach of electricity to half of its 1 billion population which doesn’t have power, but this long-term goal will help to change the way India uses energy.

B.K. Chaturvedi, a member of Planning Commission that charts India’s growth path, has said “We should develop this in the context of a two-pronged strategy. The first is improving energy efficiency, and the second is changing the mix of the energy which we consume”. Chaturvedi went on to say some of the planned $2.3 billion will be used to improve India’s green energy sources including solar, wind and nuclear power.

There was no mention of how the money will be allocated to each method of energy, but this is another positive sign of India’s commitment in finding alternative and more efficient ways in which its 1 billion-plus population will have access to power in the future.

International Government Affairs & Corporate Relations Consultants for Emerging Markets

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