photo: Nivedita Kashyap
One of the commitments made at this year’s Clinton Global Initiative’s annual meeting is one with significant implications for the development of renewable energy in the developing world. Suzlon Green Power, owned by the Tanti family (of Suzlon Energy fame) has announced that it will be bringing 3,500 megawatts of green power over the next five years, at a total cost of $5 billion, to nearly 10 million people in the developing world, primarily in India and China. Tulsi Tanti had this to say of the commitment:An Urgent Global Need For Clean Energy
The urgent global need for clean energy compelled me to dramatically expand my family's business holdings. Our flagship business Suzlon Energy continues to focus on developing wind power solutions, offering wind turbines to the global market. On the other hand, we now commit to developing and owning green power assets through Suzlon Green Power, which will bring energy where it is needed most. Suzlon Green Power's business model will offer us an asset-based long term annuity income while mitigating the twin challenges of global warming and climate change. It also adds greater vertical integration to our holdings, building the value of our businesses in the long-term.
Suzlon Green Power says that these (as yet unspecified) projects making up this commitment will generate 1000 jobs and reduce 7 million tons of greenhouse gas emissions annually.