India is tying up with leading foreign players for absorbing cutting edge technology and skills to emerge as an export powerhouse in the field of renewable energy.

"Not only do we wish to export renewable energy technology to the developing countries but in the years to come, also to markets in the developed world," visiting Minister of New and Renewable Energy Farooq Abdullah has said. In an informal interaction with the media on the sidelines of the World Future Energy Summit, Mr. Abdullah said most of the funding to fulfil India's ambitious renewable energy programme would be raised domestically. However, the Clinton Foundation has been tapped for bridging the financial gaps, as and when they emerge. An initiative of the former U.S. President, Bill Clinton, and the Clinton Foundation is backed by corporate heavyweights, including GE Energy and Microsoft.

Apart from wind, solar and biomass, geothermal energy will get a boost through foreign tie ups. Mr. Abdullah said Iceland had promised support in developing geothermal energy in India, which will be especially applicable in remote mountainous areas including Ladakh.

Earlier, while participating at the Energy Ministers Roundtable, Mr. Abdullah said to achieve energy security, India was focused on renewable energy, and wind energy alone contributed to 11000 MW to the national energy pool. As India looks for sources beyond oil and gas, a potential of around 1,00,000 MW has been identified from wind, biomass and small hydro sources.

Mr. Abdullah pointed out that the recently launched Jawaharlal Nehru National Solar Mission has set an electricity production target of 20,000 MW by 2022. Biomass, which is a Carbon neutral fuel source, has potential to yield 16,000 MW of power. Small hydro projects of less than 25 MW capacity can generate 15,000 MW.

Mr. Abdullah said the Japanese had agreed in principle to set up a Solar City along the ambitious Delhi-Mumbai Industrial Corridor.