8 social venture funds that invest in India’s clean energy sector
Kalyan Verma
August 30th, 2013
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On July 30th and 31st,India suffered the world’s biggest blackout, which left more than 600 million people without power, leaving the government shamed. Despite being the world’s second most populous country, its share in world energy consumption stands at a meager 4.2%, The International Energy Agency (IEA) estimates that India needs an investment of at least $135 billion to provide meet the energy needs of its population. However, it has a significant renewable energy power generation potential; solar energy is a source with the highest attractiveness in the country, and is among the 15 most attractive countries for renewable energy. Despite an increase in the installed capacity of power through conventional energy sources and the National Solar Mission launched in 2010, India is energy-deficient. About 400 million people have no access to the power grid and therefore rely on kerosene, which is hazardous to health and releases tons of carbon dioxide in the atmosphere. Energy access is poorest in remote and rural areas: overall electricity access of rural households has increased from 36% in 1994 to only 56% in 2011. However, electricity access is limited even in electrified villages due to inadequate generation and distribution infrastructure. Ensuring a lasting supply of clean energy becomes a prime requirement to promote inclusive growth. The good news for the country is that its energy needs can perhaps be fully met entirely by solar and other renewable sources.

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