Renewable energy to get cheaper, says India’s ministerJune 12th, 2009 - 8:42 pm ICT by IANS
New Delhi, June 12 (IANS) The cost of generating clean energy should be brought down to make it “affordable” for developing countries, Minister for New and Renewable Energy Farooq Abdullah said Friday after his interaction with the visiting UAE foreign affairs minister.
The minister, during his interaction with Abdullah Bin Zayad Al-Nahayan, the minister for foreign affairs of the United Arab Emirates (UAE), said the developing countries were more in need of renewable energy.
“The cost of development and use of renewable energy should be made affordable for its use by developing countries,” Abdullah said.
India has always maintained that it was imperative to ensure effectiveness of developing sources of clean energy, he added.
The minister said the Clean Development Mechanism (CDM) financing for generating renewable energy should be made more attractive.
Under the CDM mechanism, developed countries can invest in projects that reduce emissions in developing countries.