'Future of sustainable energy in India depends on finance'

The development of energy sector and its sustainability in India depends on how the country gets finance for a cleaner energy system, experts suggested on Tuesday.

"To be able to make sure that India does not delay its prosperity, our renewable energy future will depend on how we get the finance for a cleaner energy," Inderpreet Wadhwa, CEO of Azure Power, said at a panel discussion on "Future of Renewable Energy" at the American Center here.

"Electricity through a renewable source like solar is bringing power to many families here," Wadhva said.

The discussion was held after a National Geographic-produced documentary titled "Years of Living Dangerously" was screened here in presence of US Ambassador Richard Verma.

The documentary focussed on how India was seeking to develop solar energy to provide electricity to 300 million people. It also raised questions whether coal would be used in the process and climate be affected.

However, the documentary praised India for its efforts at initiating research and work to develop renewable sources of energy.

Arunabha Ghosh, CEO of the Council of Energy Environment and Water (CEEW), said that those countries which would invest in India's energy sector would also boost their jobs and economy.

"By offering bigger markets, the cost of finance will lower and that is an opportunity," Ghosh said.

"We all have to put together efforts for the next generation to get a new scale of solar energy -- which has to continue to get more efficient," he added.

--IANS

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