Swiss cos eye USD 2 bn renewable energy mkt in India

April 10th, 2011
New Delhi, Apr 10 (PTI) The Indian market potential for Swiss entities that are into renewable energy and water technology areas could reach up to USD 2 billion, according to a Swiss business group official. Many Swiss entities are into the fast-growing clean energy sector and are looking for business opportunities in India. "Market potential that is addressable by Swiss companies could reach up to USD 1-2 billion. (The figure is) Market volume in renewable, solar and water segment technologies," Cleantech Switzerland''s President Uwe Krueger told PTI. A Swiss government-sponsored entity, Cleantech Switzerland provides an export platform for Swiss cleantech players. The market for clean energy in India is growing and such projects are estimated to have attracted private investments of around USD 4 billion last year. Without divulging details, Krueger said that now there are projects -- related to water technology areas in India -- -- worth about 20 million Swiss francs in the pipeline. Krueger was here as part of the business delegation that accompanied Swiss Head of the Federal Department of Economic Affairs Johann Schneider-Ammann. He noted that power generation from "decentralised sources" such as wind power turbines and solar farms would provide huge investment potential in countries, including India, especially, in terms of upgrading the existing electricity grids. Cleantech Switzerland has also entered into an agreement with the Confederation of Indian Industry (CII) to explore business opportunities in the clean energy sector for both Indian and Swiss entities. The focus would be on renewable energies and efficiency, water and waste water utilisation and environmental technologies. The agreement was inked between Krueger and S Raghupathy.