Wevio Global Inc. headquartered at Seoul, South Korea is a global investment gateway with thrust areas as Renewable Energy, Infrastructure Development, Manufacturing & Medical Devices. As India is one of the major hubs of power generation companies, especially renewable energy, Wevio Global Inc. led a Korean delegation from “Green Energy Institute” for an understanding of the energy industry in India. This delegation was helpful to understand opportunities and challenges in Renewable Energy Industry in India.
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The renewable energy sources like wind energy, solar energy, geothermal energy, biomass energy and fuel cell technology can be used to overcome energy shortage in India. Today, renewable energy account for about 33% of India’s primary energy consumptions. The government of India has set itself a target of 175 GW by 2022. In the course of the visit, the delegation has visited few of the top companies in renewable energy Industry in India and have interacted with the companies regarding the opportunities in the renewable energy sector. The outcome of the interaction had clearly shown that India is looking out for the development in solar, wind and waste energy, biomass and other similar energy projects for the benefit of the environment and carbon free power generation. India will be the most prominent country in the energy sector by every FY. Few of the energy sector companies have driven their interest towards tidal energy and considering the fact that Korea has well developed tidal energy technology and also the smart power grid system developed in Korea. Furthermore, MOU has been in the process to be signed by CIIGBC and GEI counterpart, which will further work in the energy sector to emerge their business relation and this helps the affiliation to mutually develop the sector.