Green Investing in India – Siemens partners Adani Conglomerate to expand its Renewable Energy Portfolio
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October 22, 2010Siemens has decided to invest around $300 million or Rs 1600 crores in India most of which will go towards Renewable Energy Investments.The Company had earlier established a beachhead in the western state of Gujarat to manufacture solar and wind energy components.The Company is setting up a 250 MW WEG Plant in India which will be expanded to 500 MW later on.Note India’s Wind Energy Market is already crowded with a number of domestic and foreign wind energy manufacturers.Siemens has therefore decided to concentrate of low power ratings turbines suitable for India and neighbouring countries.Note Siemens has a solid technological edge in Concentrated Solar Thermal Plants after acquisition of the Soleil Systems.
The JV with the Adani Group is a win-win for both companies.Adani Group is setting up 16000 MW of Thermal Based Plants in India over the next few years and has also planned a 100 MW Solar Plant in Gujarat.It has started a company Adani Renewable Energy to take forward its Green Energy initiatives.The tie-up with Siemens will allow it to access cutting edge Green Technology while Siemens will get a huge customer for its Energy Equipment.Renewable Energy in India is a huge growth opportunity considering that India will have to increase its Renewable Energy by almost 45 GW over the next 10 years if it has to meet 15% of its Electricity Requirements from Green Sources as mandated by the CERC.Green Investing in India – Siemens tie ups with Adani Conglomerate to expand its Renewable Energy Portfolio
Siemens fuels local green interest with Adani tie-up – BS
With India emerging as a big market not only for conventional but renewable power, too, global energy major Siemens plans to make the country a major hub for its ‘green energy’ business. It has tied up with the Adani group for a foray into solar power, besides firming plans to put up a wind energy turbine plant in Baroda, targeted at other emerging markets.
For the $5-billion Adani group, which has business interests in diverse fields such as energy, trading, ports, infrastructure and logistics, a tie-up with Siemens can help in accessing latest technology in the solar energy sector. The Adanis plan to set up a 100 Mw solar power plant at Surendranagar in Gujarat, through its subsidiary company, Adani Renewable Energy.
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[…] companies have largely been absent in the Indian solar energy scene except for Siemens,Areva which are moving aggressively in the whole green energy sector.Note US and Chinese companies […]