Indian renewable energy development

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Connect with the Welspun Renewables News Room to stay updated with the latest Solar Energy news articles and other aspects of Indian renewable energy development.

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Title: Asia Will Dominate Energy Storage Says Frost Sullivan Survey Summary: The Asia Pacific region is likely to dominate the market for solar power riding the back of growing demand from countries like China India and Japan. With the need for faster integration of renewable energy into the power grid set to increase Asia is likely to emerge as the dominant region for energy storage while solar power will be the fastest growing power generation technology in 2016 states a new report by the market research and consulting group Frost Sullivan. That need is expected to open the floodgates to massive interest in community and grid-scale energy storage solutions for renewable energy projects next year specifically in countries like China Japan and South Korea. The report further points out that while coal is likely to retain its position as a major fuel source for power generation in the region by end-2015 annual solar power generation capacity additions in the region is expected to touch an estimated 25.6 GW and further increase to 33 GW in 2016 reflecting an impressive annual growth rate of approx 28.9.

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As per the report the Asia Pacific region is likely to continue being a strong market for solar energy projects riding the back of growing demand from Asian economies including India. The expected growth is likely to result in strong investments from the private sector both in the upstream and downstream facets of the solar energy value chain adds Frost and Sullivan. The report also adds that Asia will emerge as the dominant region for energy storage as the need for faster integration of renewable energy into the power grid grows. This is also expected to signal a renewed interest in community and grid-scale energy storage solutions in the coming years particularly in Japan China and South Korea. Key markets for residential energy storage in 2016 will be led by countries like Australia and Japan. Similarly grid investments that also include smart grids are poised to touch approx 126 billion in the region in 2016 led by China 78.3 billion India 15.4 billion and Japan 12.6 billion respectively. Smart grids are likely to attract big volume investments from Australia China and Japan among others. Welspun Renewables is a leading player in the renewable energy domain with its solar power plants spread across Gujarat Rajasthan Madhya Pradesh Maharashtra Karnataka Punjab Tamil Nadu and Andhra Pradesh.

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Awards GLOBAL SOLAR ENERGY LEADERSHIP AWARD 2015

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