India: HAREDA Signs MoU to Encourage Renewable Power Generation

The Haryana Renewable Energy Development Agency on 20 February, 2007 signed a MoU with seven IPPs to encourage renewable power generation in the country.

By signing the MoU (Memorandum of Understanding), on 20 February 2007, the Haryana Renewable Energy Development Agency has opened the windows for further growth of the renewable energy sector of the country. The agency co penned the MoU with seven IPPs (Independent Power Producers) before Mr. Bhupinder Singh Hooda, Chief Minister for the state, and Mr. Chander Mohan, the Deputy CM.

As per Sumita Misra, Director- HAREDA (Haryana Renewable Energy Department Agency), in a statement that PunjabNewsline published on 20 February 2007, these projects of renewable energy would be environment friendly as well as help reduce power cuts in peak hours.

Hooda said, with energy being the most vital part for the development of various businesses in the country, his government wanted to support this sector by launching several projects. The initial step in this direction was the announcement of the policy in November 2005. Encouraging electricity generation via renewable sources of energy was the focus of this policy, which called for private investors to launch renewable energy projects in Haryana.

Solar energy, waste-to-energy, wind energy, small hydro projects, alternative fuel and biomass are the major investment areas of the diversified renewable energy industry in India. Strong business prospects exist in this industry for private investors.

As per the RNCOS report “Indian Power Sector (2006)”, Indian government is encouraging the foreign investors for setting up renewable-energy based power generation projects on “Build-Own-Operate” basis. Such encouragement from government will surely help bolster power generation capacity of the country.

This research report on “Indian Power Sector (2006)” addresses some interesting issues for today’s global business environment. The report provides objective analysis on all facets of Indian Power Sector such as market forces driving the industry & challenges faced by it, major players exist in Indian power industry, what opportunities exist in Indian power industry, etc.

The report further provides extensive research and objective analysis of the Indian Power Sector. It’s a must read for investors, analysts, businesses and those closely monitoring the developments in this industry as it helps clients in analyzing the opportunities critical to the growth of Indian Power Sector.

About RNCOS E-Services Pvt Ltd.:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

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