MANAMA: Bahrain and India could collaborate in the renewable energy sector with both governments pledging commitment and working towards net zero greenhouse gas emissions, according to experts.
Business opportunities are there to be grasped by both countries and joint endeavours could help boost trade and investment opportunities, an online interactive and business networking forum heard.
Titled ‘Opportunities in Renewable Energy Sector in Bahrain’ the session was hosted by the Indian Embassy, supported by Bahrain’s Electricity and Water Affairs Ministry and Indian Ministry of New and Renewal Energy. The forum was organised in co-operation with the Engineering Export Promotion Council (EEPC) India, in partnership with the Bahrain Indian Society (BIS).
Renewable energy has emerged as one of the ‘most important’ areas in which the countries could explore working together, Indian Ambassador Piyush Srivastava suggested during the forum.
“This sector has huge potential for bilateral trade and investment as well as for co-operation in technology and capacity building,” he said, expressing his delight over Bahrain completing all procedures to join the International Solar Alliance (ISA).
“This would certainly give a great push to our co-operation in the solar energy sector.”
ISA is an alliance of 102 signatory countries with an objective to work for efficient consumption of solar energy to reduce dependence on fossil fuels, launched by India in 2015 ahead of that year’s UN Climate Change Conference in Paris.
“Commitments of both governments for net zero emissions, and high priorities attached to the renewable energy sector towards this target, provides considerable synergies for co-operation between our two countries and opens up opportunities to the private sector,” said the envoy.
“Indian companies can consider Bahrain, which is a gateway to the GCC region and provides excellent business friendly policies and climate, to tap the market in this geography.”
During the COP26 meeting in Glasgow, India has set a target of net zero greenhouse gas emissions by 2070, and is steering towards 500 GW of renewable energy capacity by 2030. Meanwhile, Bahrain has also set the net zero emission target by 2060, aiming at generating five per cent of its power from renewable sources by 2025 and 10pc by 2035.
BIS chairman Abdulrahman Juma signalled to the GDN the ‘huge potential’ of the private sector and semi-government markets to collaborate.
“Since Bahrain is serious and has set a target for renewable energy, there will be a lot of opportunities for businesses all over the world, especially Indian companies because of the proximity, because of the know-how and various other factors,” Mr Juma told the GDN, highlighting price and logistical advantages compared to China, for example.
“The Indian experience in the related fields is also impressive – we have the monorail in the pipeline and India has a metro system in Kochi, with 60pc of power in every station is solar,” he added.
Electricity and Water Affairs adviser Alexander Al Samahiji highlighted the priorities attached to the renewable energy sector by the Bahrain government in its Economic Vision 2030.
In a presentation Mr Al Samahiji shared highlights on the current and nea-future business opportunities, leveraging feasible technologies and projects in the country’s renewable energy sector.
The B2B meeting, in line with the decision taken in the first India-Bahrain Joint Working Group Meeting (JWG) held in February last year, was attended by more than 80 companies. JWG aims at promoting trade, economic, technological and capacity building and co-operation between the two countries.
Also in attendance were Indian New and Renewable Energy Ministry Joint Secretary Dinesh D Jagdale, Principal Secretary to the government of the Indian state of Madhya Pradesh Manu Srivastava, Engineering Export Promotion Council of India chairman Mahesh Desai and representatives of Solar Manufacturers Association, Wind Turbine Association and Hydrogen Association of India, alongside private sector and government companies in the renewable energy sector.
raji@gdn.com.bh
&uuid=(email))