Pachauri pitches for more investment in R&D by energy firms

State-owned energy companies need to enhance investment in research and development in renewable sources of energy, TERI’s Director General and environmental scientist Rajendra Kumar Pachauri said on Sunday.

“...I think in the renewable energy field I would like to see some of the energy companies in this country to invest a lot more. Whether it is ONGC, Oil India or Indian Oil, or even some of the power companies, they should be investing a lot more in R&D, so that we can start preparing for non-fossil 

fuel-based energy supplies,” Pachauri said here.

To boost the industry (renewable) sector, the government will have to come up with proactive policies, the banks and other financial institutions need to get involved and even overseas investment is required, he told reporters on the sidelines of an event that marked laying of foundation stone of Hyderabad campus of TERI (The Energy and Resources Institute) University.

“This (renewable) is a sector which has a huge market in India and if overseas investors can invest in renewable energy in India and if India can develop renewable energy technologies and use them in large scale that can also then be expanded to other developing and even developed countries. I see India becoming a leader in field of renewable energy globally,” he said.

Reacting to a query, Pachauri, who is also the TERI University’s Chancellor, said, “We have to improve the efficiency of energy use. Whether it is transport, building or industry sector there is enormous potential for bringing about efficiency improvement and it is something we need to do. At the same time, we also have to move towards greater use of renewable sources of energy.”