INTERVIEW - EU should boost investments in renewables - Suzlon

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Europe needs to invest 200 billion euros ($268.3 billion) in renewable energy to achieve energy security and a low carbon economy by 2020, the head of Indian wind turbine maker Suzlon Energy said on Monday.Tulsi Tanti said during a World Economic Forum conference there was not enough investment momentum in the sector and governments had to do more to boost investments to meet demand."In the next 10 years, Europe should be able to develop 150 to 200 gigawatts of electricity and within that, about 100 gigawatts could potentially be harnessed through offshore windpower," Tanti said in an interview."If investment is accelerated in the sector, it will bring economic sustainability, energy security and a low carbon economy while creating more jobs," he said.Tanti said European governments should play an active role, especially in project financing and building a larger grid infrastructure to cater for ever growing demand."Governments have to set the targets for banks and financial institutions, that a certain percentage of available finance should be directed towards the developemt of renewable energy," he said.Suzlon, which holds a majority stake in Germany's REpower, is the world's third-largest wind turbine maker behind Denmark's Vestas and Spain's Gamesa.It has operations in 24 countries and has installed about 13 gigawatts of electricity worldwide.Tanti said he did not expect any growth in the sector this year compared with 2009 as economies recover from the financial crisis."However, in 2011 and 2012, we will be in the high end of good growth. We are expecting somewhere between 20-25 percent of growth in the next five years worldwide and Suzlon will do a minimum of that," he said.The head of the Mumbai-listed firm declined to confirm or deny reports that it was in talks with London-based Caparo Group to build 3,000 megawatts capacity wind farms over six years that could bring in about $3 billion in revenues.(E£diting by Sue Thomas)
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