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AcceleratorIndia organises Cleantech event in Cambridge (10 Jan 2012)

Cambridge, January 10th 2012 – AcceleratorIndia and Cambridge Cleantech announce an exclusive, invitation only event on January 26th 2012, focusing on Cleantech opportunities in India for companies from the East of England. 

As one of the fastest growing markets globally, India needs a number of technology driven products and services to power its growth. Nowhere is this felt more than in energy efficiency, clean air and environment renewables, primarily solar, and smart grids. A number of initiatives, under the umbrella of National Action Plan on Climate Change (NAPCC) have been announced to address the challenges of energy, environment and rural development. 

Dr Uday Phadke, Chairman of AcceleratorIndia, said “The rapid growth experienced by the Indian economy has placed major strains on its resources and infrastructure. Indian businesses and government are looking for innovative solutions to support this growth, opening opportunities for British companies that are invaluable in the context of the current challenging economic conditions in Europe.” 

Martin Garratt, Chief Executive of Cambridge Cleantech said “we have had contact from a number of cleantech businesses from the developing economies and with European markets currently faltering, there is a tremendous opportunity for business growth in countries such as India.“

There are several programmes underway simultaneously that are creating tangible opportunities, which AcceleratorIndia has already tapped into to create potential for two Cambridge companies.

The Indian government has launched the Solar Energy Corporation of India (SECI) to oversee the National Solar Mission that aims to deliver 20GW of installed solar capacity by 2020 at an estimated cost of $20bn. SECI has been awarded a budget of around $500m and tasked with accelerating solar project deployment.

In smart grids, $120mn has been announced for 6 – 8 pilot projects across the country. These pilot projects will focus on integration of renewable energy sources with the power grid, reduction of aggregate technical & commercial (AT&C) losses and peak load management.

India is also targeting energy intensive industries with Perform Achieve and Trade (PAT) market-based mechanisms and Technology programs to replace inefficient appliances. A new company Energy Efficiency Services Limited (EESL) has been formed to spearhead financing of energy efficiency and a Partial Risk Guarantee Fund (PRGF) with initial seed money of $40mn.

Getting in on the action is going to take some effort, but due to the pace of growth now is the time to get in and take advantage. However, it is not easy to get started because there are localisation challenges for the technology, commercial and business model adaptations required and a deep dive is needed into understanding the value chain and propositions to customers and multiple stakeholders.  Prior backpack experiences and an affinity with cricket are unlikely to be sufficient!

AcceleratorIndia specialises in helping to build strong partnerships and commercial relationships between UK and Indian companies and has clear leadership in assisting the business expansion of UK technology companies into the Indian market since 2008. AcceleratorIndia now has a solid track record of taking UK cleantech companies, including some from Cambridge, into India. AcceleratorIndia is active in the major cities across India, including Delhi, Mumbai, Bangalore, Chennai and Hyderabad, coordinated from a base in Pune, managed by a very experienced member of the Core Team.

Arun Muthirulan, Director of AcceleratorIndia and leading its Cleantech practice, said “AcceleratorIndia has helped a number of UK cleantech businesses to better understand the local market, ecosystem and value chains, to build strong partnerships with major Indian companies and to find new customers for their products and services. Our UK clients appreciate and value our deep understanding of the Indian market and the strong relationships that we have helped them to establish in India.” 

Published on 10 January 2012

Last updated: 20 May 2012