The annual event has been jointly organized by Federation of Karnataka Chambers of Commerce and Industry (FKCCI) and MM Activ Sci-Tech Communications.

The summit is supported by the Government of Karnataka, creating a platform to showcase the immense business and transformational opportunities in renewable energy.

The three-day summit is expected to kick-start on June 5, 2014, and will be culminating on June 7, 2014, at White Orchid Convention Centre and Manpho convention Centre, Bangalore, India.

The GREEN Summit will bring in all the leaders from the government, industry, academia, and entrepreneurs, non-governmental organizations and other stakeholders who will influence, define and shape the future of energy in India.

The occasion was graced by chief guest, Sri D K Shivakumar, Hon'ble Minister for Energy, Government of Karnataka.

The keynote was delivered by Sri P Ravikumar, IAS, Additional Chief Secretary to Government, Energy Department, Government of Karnataka.

In his commendable speech, Sri D K Shivakumar elucidated, "A new government is coming up at national level in the country, and the whole world is looking at us. As far as Karnataka is concerned, the state is seen as a global destination. Our country has the necessary human resource with varied capacities."

According to the Minister, today Karnataka is self-sufficient in its power generation without any major hiccups.

"Today, compared to the demand, we are able to manage our power needs very well. We are looking at having more power generation, adding to the current capacity, ensuring that Karnataka will be 'the' destination for investors. About 22% of the power generated in the state is used by the industries, and 13% for commercial purposes. The government this year has allotted Rs 10,500 crore for subsidies, in that more than Rs 6000 crore will be given to the agricultural sector. About 37-40% of the power produced will also be given for agri purposes," he expressed.

The Minister also revealed that, shortly, the new Solar Policy will be in place, which will be liberal and attractive for investors.

"We are looking for new thinkers and new investors. We want to distribute solar power to the entire state of Karnataka, and ensure that solar plants are distributed all over the state. At least by 2020, we have to have a major shift towards green energy."

Sri Shivakumar fully assured that the government will fully be involved and will want to see Karnataka as a destination for investors across sectors.

"I can assure that investors will be provided safe, sufficient and efficient power. The government of Karnataka will stand by in all their endeavours making the state rich, proud, self-sufficient and vibrant," he concluded.

Sri P Ravikumar, in his speech, added, "This summit is an opportune moment. We need to come up with new renewable energy policies. This summit will help recognize in formulating new policies which will give an understanding of the renewable energy sector."

"There are hiccups like legal, regulatory and local woes that needs to be overcome, otherwise, we'll continue to only talk and see nothing in fruition in reality. We hope that the new Solar Policy will move us in a direction of liberalizing policies. Here, technology is the driver. Fossil fuel-based energy's price is increasing rapidly. Initially the renewables were expensive. But now they have become much cheaper," he added further.

Sri Ravikumar also commented on the country's energy security issues. "Our thermal power generation depends on gas and coal. We now import large amounts of coal. Interest rate fluctuation is making fossil fuel imports highly expensive, which ultimately affects our energy security," he said.

Talking about energy access, he commented, "Energy access is a driver for renewable energies. Renewable energy is best suited for energy access in remote areas. We are also a part of National Action Plan for Climate Change. It is necessary to reduce the consumption of fossil fuel energy and increase the usage of renewables."

"All these factors will combine together to see better renewable energy production and increase in the push by the government. However, the main problem in the industry is in the area of finances. We are trying to bring in financial institutions here and decide the tariff structures so that financial institutions will be enthused to support us more. Thus, we'd like to bring in the industry, government, financers, stakeholders, and players, to make Karnataka a forefront state in renewable energies," concluded Sri Ravikumar.

Also, speaking on the occasion was Mr Jagdish Patankar, MD, MM Activ, who opined, "We want to create valuable knowledge and a business forum in this summit. If India has to march forward, it has to work on its infrastructure and energy. The government of Karnataka is playing a great role in supporting various programs related to renewable energy."

The key highlights of the conference includes CEO conclave, secretaries conclave, grand challenge, poster session and awards ceremony.

Also, the discussions will touch upon technologies, business models, policy, energy security, and renewable energy adoption.

The international exhibition will focus on solar energy, energy efficiency, wind power, mini hydel, geothermal, fuel cell, bioenergy, tidal energy, waste to energy and flywheel energy.