Business

Gujarat to set up renewable energy equipment manufacturing SEZ

Gujarat may soon have a Special Economic Zone (SEZ) dedicated to the manufacturing of renewable energy equipment, covering the three core areas of solar, wind and bio-mass energy.

V K Buch, director of the Gujarat Energy Development Agency, the nodal agency for New and Renewable Energy in Gujarat, said this in Ahmedabad on Wednesday.He was speaking at a seminar organised by the Confederation of Indian Industry (CII) on ‘Emerging Green Business Opportunities’.

“The total business opportunity in Gujarat in renewable energy sector amounts to Rs 65,000 crore, with Rs 50,000 crore in wind, Rs 10,000 crore in solar and Rs 5,000 crore in biomass. Though the proposal is still in the initial stages, once this SEZ materialises, it will be a major boost to the renewable energy business here,” said Buch.

The CII meet deliberated on a wide range of topics, including new dimensions in alternative energy technology and alternative infrastructure systems for sustainable growth.

Atul Garg, chairman of the Central Gujarat Zonal Council, CII, said, “Being a highly cost intensive sector, the government must introduce subsidies to make the green energy business viable.” Also, it needs to be backed up by a sustained public awareness campaign,” he added.

indianexpress.com

Abhay N

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Abhay is the founder and managing editor of India Microfinance. He is passionate about microfinance, financial inclusion and social entrepreneurship in India.

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