Andhra Pradesh

European Union eyes Indian renewable energy projects

HYDERABAD: Climate change is not all about hot and cold weather spikes, melting of glaciers and rising sea levels triggered partly by emission of green houses gases (GHG), but also about opportunities.

The European Union’s unilateral decision to switch to low carbon energy efficient economy, reduce GHG emissions by 20 per cent and meet an equal quantum of energy requirement through renewable sources by 2020 as part of climate change mitigation strategy seems to have opened up window of business opportunity for India.

Making a presentation at the information seminar, “European Union, energy and climate change for the India media” here recently, a top environment department official of the Delegation of the European Commission to India said the EU was eagerly looking at Indian projects on renewable energy as well as recycling of waste. He said since the share of renewable sources like wind, solar and biomass in the overall energy basket of the EU is going to be raised from the present 8.5 per cent to 20 per cent by 2020, the business potential was huge. A word of caution, he emphasised was on maintaining high quality. Quality and energy efficiency would be key factors in accepting a product. “We also have to learn a lesson from India on waste management and recycling. The per capita waste generation is high in Europe unlike in India.” No surprise that technology and trade enquiries on renewable energy sources have almost doubled in the last few months at the European Business and Technology Centre established in New Delhi in October last year. The EU believed in leading the world by example on climate change adaptation, energy and environment, the official said. The EU’s climate and energy policy hinged on reducing emission of GHGs and ensuring more secure energy sources that depended less on import of foreign oil and gas. The policy has set targets in each area and how they have to be achieved, besides creating thousands of “green jobs”.

For instance, the target of 21 p.c. reduction in emissions (below 2005 level) has been set for power plants and energy intensive industries and this is being done by granting fewer emission allowances under the EU Emissions Trading System (ETS). For sectors not covered by ETS like transport, farming, waste and households, emissions are to be cut to 10 p.c. below 2005 levels through binding national targets. Within the EU, higher reductions are specified for richer countries and limited ones for the poor. In the transport sector, the EU encouraged bio-fuels, hydrogen and ‘green’ electricity. It was looking at use of Carbon Capture and Geological Storage (CCS) technologies, though it may take more time than thought of.

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