India tops world green technology investments in 2011

India invested US$10.3 billion in green technologies, up 53% year-on-year and ahead of any advanced or emerging economy in the world.

Its solar energy investments rose seven times in the space of a year: to US$4.2 billion in 2011 from just US$600 million in 2010.

India added a record 2,827MW of wind energy capacity in 2011, making India third behind China and the USA in new installations. Indian investments in wind technologies hit US$4.6 billion, according to Bloomberg.

Solar energy connected to the grid in India rose to 277MW from just 18MW in 2010, a mammoth increase of 1,400%. Solar investments leapt from US$0.6 billion in 2010 to US$4.2 billion in 2011, up 600%. Up to 750MW of solar projects could be added in 2013.

Bloomberg expects India to exceed the target of adding 12.4GW of grid-connected renewable energy during its 11th five-year plan from April 2007 to March 2012, and is likely to bring 14.2GW of capacity online.

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