11 Oct, 2010, 01.00PM IST,PTI
NEW DELHI: The fast growing Indian renewable energy sector is expected to witness increased deal making activities in the coming months, according to global consultancy Deloitte.
“The trend (in deal making activities in the renewable energy sector) will continue going forward. The increased interest is not only a necessity in order to acquire technologies, but has also been on account of attractive valuations after the global financial meltdown,” Deloitte India’s senior director Kalpana Jain said.
Going by estimates, India had seen as many as 14 deals worth $1.1 billion in the green energy space for the year ended June 2010.
Jain said there is “renewed impetus” in the renewable energy sector, especially in the solar energy segment.
“The solar sector is expected to see an increased participation and collaboration especially in the technology and manufacturing space,” she noted.
According to a report by Deloitte, the growing renewable energy industry would supplement the conventional sources of energy such as the oil & gas sector.
“At a time, when the country is seeing supply shortage — current peak power supply deficit at about 12 per cent — the renewable energy sector will complement the conventional sources of energy like petroleum and coal,” Jain said.
Even though the renewable energy sector is anticipated to see good investments in the next 12-18 months, the growth trajectory would mainly depend on the extent of global economic recovery, the report said.