India adept at technologies, says envoy
The deployment of off-grid, clean energy technologies, combined with innovative financing models and market-based solutions, are agents of change through which India is expanding electricity network, noted the US Ambassador to India Kenneth Ian Juster.
“Through these and other initiatives, India is quickly expanding reliable electricity access to Indian citizens, improving living standards, and expanding economic opportunities for all, he said.
“Indeed, your country is particularly adept at creating and adapting technologies that are applicable in low resource environments,” applauded the Ambassador at the awards of grants to the second round of PACEsetter fund programme in a ceremony held on 20 Sept 2019.
In support of these efforts, the Governments of India and the United States established four years ago the PACESetter Fund, which both countries jointly finance.
The Fund provides early-stage grant money to accelerate the commercialization in India of innovative off-grid, clean energy products and systems.
“I have very much enjoyed learning about the projects that have received awards today, and how they are furthering India’s long-term energy goals. I look forward to hearing updates on these projects,” said Juster.
The award ceremony was organized by Ministry of New and Renewable Energy.
He highlighted India’s over 82 gigawatts of installed power that is derived from renewable energy sources, with more on the way.
Universal energy access is crucial for improving living standards and for economic development more broadly, the envoy pointed out.
In the context of the United States, as late as 1930, only one in 10 rural Americans had access to electricity, recalled Juster.
“Our ability to rapidly increase power generation and grow the electrical grid became a major pillar in my nation’s development, and laid the foundation for decades of strong economic growth and significant wealth creation,” he said.
Noting that India is expected to account for one quarter of the growth in global energy demand by 2040, he said that ensuring access to energy will be a major priority – as well as a major challenge.
“However, innovations in off-grid and clean energy, including the projects we are recognizing today, will help expand access to energy across India,” said Juster.
The award ceremony was organized by Ministry of New and Renewable Energy.
The PACEsetter fund was constituted by India and the in 2015 as a joint fund to provide early-stage grant funding to accelerate the commercialization of innovative off-grid clean energy products, systems, and business models.
The mission of the PACEsetter Fund is to accelerate the commercialization of innovative off-grid clean energy access solutions by providing early-stage grant funding that would allow businesses to develop and test innovative products, business models and systems.
The Fund’s main purpose is to improve the viability of off-grid renewable energy businesses that sell small scale (under 1 megawatt) clean energy systems to individuals and communities without access to grid connected power or with limited/intermittent access. (less than 8 hours per day).
In the second round of awards, a total of 168 Expressions of Interest were received. Out of these, four projects were selected for award of grants.
The awardees include Society for Economic and Social Studies, New Delhi, Customized Energy Solutions India Pvt Ltd, Pune, The Energy & Resources Institute (TERI), New Delhi and Raghavendra Suntech Systems Pvt Ltd (RSSPL), Bengaluru. fiinews.com
