Promoting sustainable energy in India

New Delhi, May 6 (ANI): Timothy J Roemer, United States Ambassador to India on Thursday said that while climate challenges are urgent, there is also an opportunity for developing sustainable energy in countries like India.

"There is urgency to the global energy, environment and climate challenges we are facing today. But there is also a strong sense of possibility and opportunity, particularly in countries such as India, where there is a tremendous need for sustainable and viable resources for energy across every village and every single metropolitan area," said Timothy at a conference organised designed to facilitate investment opportunities in renewable energy and clean technology.

Union Minister for New and Renewable Energy Farooq Abdullah, who was also present at the conference, said that there is a need for financial assistance from both domestic as well as international agencies to generate solar energy.

"We have to generate solar energy, which is very expensive, hence our country should seek financial assistance from both India and overseas. Overseas Private Investment Corporation (OPIC) finances projects like these, therefore this conference is in regard to what Prime Minister Dr Manmohan Singh and US President Obama had discussed in their earlier meeting," said Abdullah.

"So, in this conference we will decide how to take this forward and meet all the needs," he added.

More than 260 participants from over 26 countries participated in the three-day conference, organized by Overseas Private Investment Corporation (OPIC).

The conference is aimed at promoting economic development in emerging markets such as India, where industry leaders in solar, wind, hydro, biomass, and clean technology development along with US and local government officials would provide insight into the investment opportunities in this sector. (ANI)