Innovative Financing can give Impetus to Renewable Energy Sector- Dr.R. Seetharaman, CEO of Doha Bank Honoured with “Energy and Environment Foundation 2017 Global Excellence Award in Renewable Energy”

Dr. Seetharaman receiving the “ENERGY AND ENVIRONMENT FOUNDATION 2017 GLOBAL EXCELLENCE AWARD IN RENEWABLE ENERGY” from HE Mr. Piyush Goyal, Minister of State for Power, Coal, New and Renewable Energy and Mines in the Government of India”

The Energy and Environment Foundation organized the 8th World Renewable Energy Technology Congress & Expo-2017 from 21st to 23rd August, 2017 at the Convention Centre- NDCC, New Delhi, India. The theme of the event was “Renewable Energy: Global Cooperation for Sustainability”. The event witnessed participants from Australia, Belgium, Canada, France, Germany, Italy, Japan, Switzerland, UK and USA apart from the key executives of many renewable energy companies. The Awards Committee of the Energy and Environment Foundation gave Dr. R. Seetharaman, CEO of Doha Bank the “Energy and Environment Foundation 2017 Global Excellence Award in Renewable energy “on 21st August 2017 for his vision, leadership, outstanding contribution and for demonstrating excellence in the Renewable energy sector. Dr. R. Seetharaman received the Award from Mr. Piyush Goyal, Minister of State with Independent Charge for Power, Coal, New and Renewable Energy and Mines in the Government of India and stated that this award is an acknowledgement for the efforts undertaken by him through Doha Bank in various renewable energy projects as part of sustainable development philosophy. The other recipients of the Global excellence award include Dr. Martin Keller, Director, National Renewable Energy Laboratory, US Department of Energy, USA, Mr. Dolf Gielen, Director, Innovation and technology Centre, International Renewable Energy Agency, Germany, Dr. Lawrence E. Jones, Vice President, International Programs, Edison Electric Institute, USA and Mr. Pranav R. Mehta, Chairman, National Solar Energy Federation of India respectively.

Dr. R. Seetharaman also participated in the plenary session “Panel Discussion on Innovative Financing of RE Projects” on 21st August 2017. He highlighted on Global Warming. He said “The main causes of global warming include Increasing Population relying on limited resources, increased Energy Needs, increased Industrial Pollutants and Low use of renewable and less polluting energy resources. China is the world’s biggest emitter, responsible for 29% of global emissions in 2015. As the second biggest emitter, the US is responsible for 15% of global emissions in 2015. The EU is the world’s third largest emitter, responsible for 10% of global CO2 emissions in 2015 and India contributes 6.3% of global emissions. The hurricanes and typhoons in recent years due to adverse climate change include Hurricane Bertha, Hurricane kathe, Typhoon Goni and Typhoon Sarika and the Abnormal El Nino in Peru this year.”

Dr. R. Seetharaman gave insight on Global renewable energy investment. He said “Global investment in renewable energy dropped by 18 percent in 2016 due to sharp falls in equipment prices and a slowdown in China and Japan. After reaching record levels in 2015, investment fell last year to $287.5 billion, according to Bloomberg New Energy Finance (BNEF).Chinese investment was $87.8 billion, Japan investment was $22.8 billion, United States $58.6 billion, Europe $70.9 billion and India at $9.6 billion.”

Dr. R. Seetharaman highlighted on renewable energy trends in Qatar. He said “Chevron launched Chevron’s Centre for Sustainable Energy Efficiency (CSEE) at Qatar Science & Technology Park. In April 2011 the U.S. Department of Energy (DOE) and the Qatar Science & Technology Park (QSTP) have signed a MOU for clean energy technologies. In May 2012 Qatar Solar Technologies has signed agreement with the Qatar Electricity & Water Company (QEWC) to explore the possibilities of developing power generation using solar energy in Qatar.”

Dr. R. Seetharaman gave insight on innovative ways of financing renewable energy. He said “Green Banking, Green Bonds, Carbon Finance, Global environmental facility, clean technology fund, Feed in tariff and PPP models are some of the ways of financing renewable energy. A green bank finances the deployment of renewable energy, energy efficiency, and other clean infrastructure projects. Green bonds are bonds just like any other that raise capital, but for green projects. Carbon finance provides a means of leveraging new private and public investment into projects that reduce greenhouse gas emissions. Global Environmental Facility requires that co-finance from other public agencies is provided for Global Environmental Facility projects as it expands the resources available to finance environmental objectives. Clean technology fund concessional financing focuses on large-scale, country-initiated projects in power sector, transport sector and energy efficiency. Feed-In Tariffs are payments to ordinary energy users for the renewable energy they generate. PPP are also emerging as a successful business model within the clean technology to create scale and mobilize necessary funding. On the whole innovative financing can give impetus to renewable energy sector.”