Power to the People

Development can be depressing, especially in the wake of the MDG Summit during which most governments lacked the general get-go to reach development goals. In the search for something more uplifting we came across a story from the World Resources Institute, which noted a rise in energy companies providing services specifically for the rural poor in India. With some 400 million rural inhabitants living without access to electricity combined with soaring energy demands for economic growth, India finds itself in a dire energy crisis. In India, much like everywhere else, access to electricity is vital to development. On the bright side, the energy scarcity has created a huge untapped market for investors.

A recent report by India’s Centre for Development Finance at the Institute for Financial Management and Research (CDF-IFMR), in collaboration with the World Resources Institute’s New Ventures Program, analyzed the market opportunities available for investors in the region hoping to encourage both domestic and international investors to “bring light to the poor”. The report estimates that the renewable energy sectors in India hold over $4 billion in investment opportunities and highlights the work of 11 companies who have already began growing the Indian energy industry. So while governments discuss the MDGs, the private sector is also showing its value in development.

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