US firms keen to invest in India’s renewable energy sector

With India looking to enhance the share of renewable sources to 40% of its energy mix by 2030, up from 13% now, US businesses are making a beeline to capture a slice of the market.

Fred P. Hochberg, chairman and president of the Export Import Bank of the US said the financial institution is working with a number of renewable energy companies in the US which are looking to increase their business in India.

“We respect the Make in India campaign but at the same time India needs a balance between local manufacturing and the best available technology,” he said, adding that a number of US firms had approached the bank, evincing interest in the Indian renewables market. Read More…