Suzlon announces green energy investment

AHMEDABAD , India, Sept. 25 (UPI) -- India's Suzlon announced it will invest $5 billion in renewable energy sources.

Suzlon Green Power Ltd. released its goal of generating 3,500 megawatts of electricity with renewable energy sources to provide power to about 10 million people.

The $5 billion investment will be spread out over five years through projects in both China and India.

"The urgent global need for clean energy compelled me to dramatically expand my family's business holdings," said Tulsi R. Tanti, founder of the wind-turbine company Suzlon Energy Ltd., based in India.

The added investment and Suzlon's expansion of its renewable energy projects likely will help both China and India meet their commitments under the Kyoto Protocol.

Tanti said renewable energy provides jobs and helps curb carbon dioxide emissions. Green energy also will help meet growing energy demand. According to the International Energy Agency, the world's energy needs will increase more than 50 percent by 2030.