'Funds for institutes to conduct R&D in renewable energy'

Centre today said that it would allocate funds to the institutes such as IITs to carry out research projects in the sphere of renewable energy in a bid to boost country's research and development capability for harnessing renewable energy potential.

"We will give funds to institutes like IITs to conduct research to develop new technology for exploiting renewable energy potential in the country," Union Minister for New and Renewable Energy Farooq Abdullah said while addressing a conference on 'Renewable Energy' here.

According to a report prepared by Ernst & Young, India has a commercially viable renewable potential of around 85,000 Mw, which includes wind potential of 45,000 Mw, small hydro of 6,000 Mw and 25,000 Mw of biomass. Moreover, the country has potential to generate 20 Mw per square km using solar photo-voltaic and solar thermal energy.

Addressing the gathering, Abdullah also talked about the setting up of a committee comprising personalities like R K Pachauri, which would guide the government to give impetus to renewable technology based projects in the country.

Stressing upon exploiting renewable sources like solar, wind and biomass for producing power, the union minister said, "Over Rs 90,000 crore will be needed only for solar energy by 2030," said Abdullah.

The Ministry of new and renewable energy had already announced a solar mission whereby the government had planned to generate 20,000 Mw of power by 2020.