Chennai, 29th Jan 2012:
Good news for renewable energy players in India.
Chile is keen on working with India in areas like renewable energy, biotechnology, agricultural sciences, transportation, mining and lithium-based industries said H.E Mr Guido Girardi, President of the Senate of the Republic of Chile
In a meeting with the Confederation of Indian Industries ( CII) members here on Friday, Mr Guido said there was tremendous scope for partnership between Chile and India in areas of renewable energy, especially, geo-thermal, tidal wave, wind, biomass and solar. He said the country has set a target of generating 20% of its energy needs, especially in the copper mining sector, by 2020.
He said Chile considered the lack of crude oil or coal reserves as an opportunity to develop renewable energy sources and both the countries could have joint ventures and research programs in renewable energy sector.
He said the legislation on energy sector in Chile was dynamic and not rigid, a tariff fixation process to give incentives for the renewable energy projects by under the government is on the way.
There are only pilot project for solar energy and he invited Indian Solar companies to explore different areas for association and partnership in Chile.
Mr T T Ashok, Chairman, CII Southern Region said owing to the great potential for partnership between India and Chile there could be a Comprehensive Economic Co-operation Agreement between the two countries. The agreement should cover investments, bilateral trade, education etc.
He highlighted the economic capabilities of the Southern States and its predominant industries including IT, renewable energy, especially wind and solar, textile, leather automobile and auto-components, aeronautics and biotechnology among others.
He said both the countries could use each other as stepping stone to the countries in their respective region. He said CII would work to strengthen the partnership between India and Chile.
India’s overall trade with Chile expanded from $586.65 million in 2005-06 to $1385.8 million in 2009-10. Trade growth has been led by substantial increase in imports of copper from Chile.
Mrs Sunita Shahaney, Honorary Consul of Chile in Chennai said there was good scope for India-Chile partnership in the wind power sector. New regulation and high energy prices have boosted renewable energy, especially wind energy projects in Chile. Currently there were 46 projects in development and many more under construction. The Indian companies could tap emerging opportunities by way of collaboration, partnership and supply of equipment, she said.