Minister highlights India’s comprehensive strategy for diversifying energy sources
While fossil fuels are prevalent globally, the world is transitioning to renewables due to climate change concerns but there is an urgent need for timely, affordable finance and sustainable technology for developing countries.
Underlining this, the Minister of State for External Affairs Dr Rajkumar Ranjan Singh, said, “The focus extends beyond energy availability to the sustainability of energy sources, emphasizing the need for timely, affordable finance and sustainable technology for developing countries.”
Addressing Energy Security Conference organised by CII on 24 Nov, he also pointed out India’s pursuit of a greener world, the primary strategy involves shifting from a coal-dependent to a renewable energy economy, focusing on Solar, Hydel and Green Hydrogen.
The comprehensive strategy includes diversifying energy sources, evident in India’s significant growth of 396% in non-fossil fuel capacity over nine years, reaching 179.322 gigawatts and ranking 4th globally in renewable energy capacity, he pointed out.
Further, India is focused on global partnerships, acknowledging that energy security requires collective action.
“India is actively engaging in bilateral and multilateral partnerships with energy-rich nations through initiatives like International Solar alliance (ISA), One Sun One World One Grid (OSOWOG), and forming green partnerships for clean energy.”
India is committed to reducing emission intensity by 45% by 2030, reaching net zero by 2070, and supporting other countries in their energy transition.
He also highlighted India’s focus on domestic infrastructure, development and technological innovations.
The Minister elaborated, “India is investing in upgrading energy infrastructure, modernizing power grids, developing smart cities, and promoting energy-efficient practices across industries.
“Initiatives like the Production Linked Scheme, Ethanol Blending, National Green Hydrogen Mission, and promoting electric vehicles aim for a clean and green energy future, providing significant job opportunities.”
India as a responsible global player, aligns its energy policies with global transitions while ensuring access to energy for its 1.4 billion people, he added.
The Minister emphasized the importance of dialogue, partnership, and shared responsibility in building a world where energy catalyzes progress, drives economic growth, and unites nations toward a better future.
To achieve growth, countries can triple renewable energy capacities and double energy efficiency through strategic alliances and partnerships, added Seema Arora, Deputy Director General, CII.
“This collective effort is crucial for a sustainable and prosperous future and just transition,” she said. fiinews.com
