Renewable Energy TERI University Organizes REtopia 2014

Editor: Dominik Stephan

To generate awareness about renewable energy among students, TERI University had recently organized the annual festival ‘REtopia 2014 – How to make India a Renewable Energy Hub’.

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India boost the share of renewable energies
India boost the share of renewable energies
(Picture: PROCESS India)

New Delhi/India - At the event, delivering the inaugural address, India's Minister of State for Power, Coal and New and Renewable Energy (Independent Charge), Government of India, Piyush Goyal said, “Academics always have a special place in my heart. I am deeply privileged to be a part of this event, and would like to congratulate TERI University for its excellent work. The world cannot be safe anymore in the years to come unless we take up renewable energy on a mission mode. I am fortunate to serve under a Prime Minister who himself is deeply committed to this cause.”

He further added, “We have reset the targets of renewable energy. What we inherited was 20 GW upto 2022, which we are trying to reset to 100 GW. On the solar front, we believe there is enormous potential to take it to 100,000 MW in next 5-7 years. We are trying to make these projects viable, by providing grid parity, making it economically viable, and ensuring that bankability and returns are reasonably assured. In short, we are trying to make it self-sustaining.”

Renewable Pays Back in the Long Run

“Renewable energy may seems expensive, but in the long-run its scores over conventional energy. The subsidy regime needs to be more robust, targeted and sustainable. The Government of India stands committed to lead the revolution in the renewable energy sector. Transparency, honesty, world-class technology will be the key to deal with key challenges,” Goyal added.

Speaking on the occasion, Chancellor, TERI University & Director General, The Energy and Resources Institute (TERI), Dr RK Pachauri said, “India faces a range of challenges and opportunities in which renewable energy initiatives would have multiple benefits for society in the years ahead. Our universities and institutions of higher learning have to radiate knowledge and provide solutions for a bright renewable energy future for India.”