Business News/ Politics / Policy/  Telangana to open incubator for renewable energy start-ups

Hyderabad: In line with its support to technology entrepreneurs, Telangana is preparing to set up an incubation centre for renewable energy start-ups next year.

The move comes in the backdrop of plans to increase renewable energy generation in the state, said Arvind Kumar, energy and industries secretary in the Telangana government.

“We are going to join hands with the University of Austin at Texas and sign an official memorandum of understanding before March next year. The university would bring the technical know-how and our investment towards infrastructure would depend on the model we would have under the MoU. But we would put in money without compromise," Kumar said on Thursday.

To begin with, the centre may initially start operation out of T-Hub, the country’s largest technology incubator, located in Hyderabad. “If there is a space crunch at T-hub, we would initially lease out space in the surrounding areas to accommodate energy start-ups and simultaneously start building infrastructure for it. This incubator would also serve companies from the neighbouring countries and not just India," said Kumar.

Telangana is planning to generate 2,500MW of solar energy and 3,700MW by March 2017. “Of the total 6497 MW of solar power generalized finalized by the government of India, 2500 MW is from Telangana. Work is going on for 500 MW and we have opened bids for the rest of the projects too. This makes us realize that renewable energy is an important area and needs a start-up fillip too," Kumar said.

The bid process began in April. Such moves by various state governments are in line with the Indian government’s push to increase the share of solar energy to 100,000 MW by 2022.

Setting up an incubation centre for start-ups that are involved with the generation, storage, transformation, rooftop and other aspects of solar power would also attract investor interest, Kumar said.

Hyderabad is home to renewable energy companies like Mytrah Energy Ltd and Greenko Group Plc, who operate energy plants across the country, and start-ups like Fourth Partner Energy Pvt Ltd (a rooftop solar projects company) and Intelizon Energy Pvt. Ltd (an energy efficient products maker).

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Updated: 18 Dec 2015, 01:45 AM IST
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