Swedish renewable energy companies partner with Indian counterparts at WeSchool
Introduction to the TOPIC
The initiative is led by India-Sweden Innovations´ Accelerator (ISIA), which is a bilateral program that will contribute to facilitating technology transfer and market entrance in India for Swedish innovative companies, focusing on scaling and adapting their technologies in the renewable energy space to the local context. This initiative aims to support Indian government’s plans to reduce dependence on fossil fuels and increase capacity of renewable energy. The Ministry of New and Renewable Energy (MNRE) of India has made a plan for a capacity addition of about 30,000 MW power during the 12th Plan period (2012-17) from various renewable energy sources mostly through private sector participation in the country.
Dr Uday Salunkhe expresses his thoughts
Dr Uday Salunkhe, Group Director, WeSchool said on the occasion, “This initiative is an ideal platform to explore new avenues in renewable energy space using Sweden’s expertise and India’s vast resources like solar, small-hydro, biomass etc, to meet the energy requirements in a sustainable and affordable manner.”
He also added, “This is also a great opportunity for our students to work with these companies and get hands on experience in implementing their theoretical knowledge to practical use.”
Mr Ludvig Lindstorm welcomes the collaboration
Mr Ludvig Lindstrom, Country Manager India, Swedish Energy Agency said, “India is struggling to suffice the energy requirements of its highly aspirational populace. This initiative would be a great opportunity for them to induce developments in the renewable energy space through collaborations with Swedish companies. We hope, this will help bring in innovative technologies that will meet India’s energy requirements at affordable rates and also boost bilateral relationship between both the countries.”
Partnership between Indian and Swedish companies
Renowned Indian energy companies like Sahara India Pariwar, Reliance Infrastructure Ltd, Tata Power, Ultratech etc., attended the event seeking potential partnerships with Swedish counterparts like Opcon, S Solar, HiNation, FOV Biogas, Clean Motion etc., in the form of joint ventures, mergers, acquisitions and the like. The initiative will be taken forward by 11 teams which will comprise of one Indian company and one Swedish company in each team. The teams will also comprise of a total of 35 students from WeSchool and Institute for Future Education Entrepreneurship and Leadership (iFEEL), who would be working together for the next few months to create future proof business models that can be implemented in the Indian market.
India is an attractive market for renewable energy due to both the availability of high solar radiance, wind speeds, as well as the power deficit. Renewable energy lends itself to decentralized generation and distribution further makes it an attractive option for India.
Through initiative of this kind, WeSchool aims to support the government’s initiative to reduce dependence on expensive imported fossil fuels.
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