Mumbai:  Even with a recessionary trend globally, India’s conventional power sector attracted FDI worth $582 million and $4 billion in private investments in clean energy in 2010.

With the Indian power sector projected to attract a total investment of US$300 billion by 2017. This is the opportune time for foreign energy firms seeking Strategic tie-ups and partnerships with Indian companies who can lower the barriers of entry and boost market access for foreign companies seeking deals in India.

Kavan Bhandary, Director at Sparta Strategy, India’s leading FDI Strategy consulting firm and the organiser of the India Power Summit details some facts about the Indian energy opportunity “In India, consumption economics cannot go wrong, with the huge demand for power. We are adding 13,000 megawatts (MW) every year under the 2007-2012 plans; he also adds that India is currently the world’s sixth largest energy consumer, accounting for 3.4 per cent of global energy consumption, with an average growth demand of 3.6 per cent per annum.

India’s existing energy capacity is 175,000MW, of which 65 per cent is thermal; 20-22 per cent is hydro and 3 per cent nuclear and renewable.

“Our renewable energy business is growing quite well and we have 10,000MW of wind power. If you convert that, it is equivalent to US$900 billion in opportunities in next 10 years that is huge business. India’s Jawaharlal Nehru National Solar Mission (JNNSM), a major initiative of the government of India, has set itself a goal of creating an enabling policy framework for deploying 20GW of solar power by 2022”, he also adds.

Kavan also states that the primary objective of organising the India Power summit is to encourage foreign direct investment into India’s growing energy sector and to help bring global energy firms and Indian energy entrepreneurs discover partnerships and capital raising opportunities in India’s high growth power sector.

To be spread across two sector specific days:

(29th September – Renewable energy and 30th of September 2011 – Conventional energy)

The India Power Summit 2011 will focus on essential themes such as development and investment opportunities for foreign energy firms in India with panel discussions, live debates and B2B meetings.

The India Power summit offers the ideal networking environment for over 150 Indian energy firms and investors to meet over a 100 foreign energy companies from across 10 countries who are keen on leveraging synergies in the Indian energy sector.

The conference will be held at the ITC Maratha – Luxury collection, Sahar Road, Mumbai.