Renewable energy will stimulate the economy and will not be affected by low crude oil prices, Tulsi Tanti, CEO of Suzlon Energy, told CNBC Tuesday at the World Economic Forum in Brussels.
There will be an increase in the renewable energy market during the next four years, Tanti said.
Suzlon is the largest wind energy business in India and the third-largest globally. And despite difficulties for the renewable energy sector in recent months, Tanti said he expects the market to grow by 20 to 25 percent between 2011 and 2015.
- Watch the full interview with Tulsi Tanti above.
Tanti was one of multiple CEOs from India, China and other countries hoping to partner with European businesses at WEF. Tanti said he believes renewable energy sector will continue to grow not only in Europe, but in Asia and the United States as well.
Asia has a high need for renewable energy and expects the sector to grow in the region by 30 to 40 percent, he said.
And although the U.S. renewable energy sector is linked to oil prices, Tanti said momentum will start to grow in 2011, adding that the sector will also grow because it generates jobs and has a manufacturing base.