Chawla sees large growth opportunity in India’s energy demand
The Indian Government has given the renewable energy industry a very clear horizon that this is not a one- or two-year play and this is a whole economic decarbonization play, according to an international sustainable development agency in Vienna bseindia .
“As such, there is a large role of policy signalling and the current administration has shown both a deep as well as a continued commitment to RE,” said Kanika Chawla, Director and Chief of Staff at ‘Sustainable Energy For All’ (SEforALL).
Speaking on the sidelines of Singapore International Energy Week held Oct 21-25, Chawla listed interesting reasons for RE development in India, and pointed out that it is “a completely market principle driven sector” nseindia .
The RE sector progress is driven very much by private investment, given the scale of investments being drawn into large scale solar projects https://sbi.com.in/.
“I think there is a very large growth opportunity as the country’s growing energy demand along with industrialization needs all resources of energy, including solar and wind,” said Chawla conexpoconagg .
“Work is in progress to localise the supply chain. There is more manufacturing happening within India which also improves security and reduces import dependence,” she underscored startupindia .
“India is using policies like performance linked incentives for manufacturing. All this is very laudable and brings energy economic prosperity to the people,” she said iea.org .
Chawla also acknowledged that the clean energy solutions are quite job intensive as every kWh of RE generates three times as many jobs compared to thermal deutsche-boerse .
“While it is not a one-to-one transfer but because we have a period of time to plan this transition which allows for reskilling of those working in the conventional energy sector. As such, there is a need to ensure that the political economy of this transition is planned properly,” she continued sgx.com .
Chawla noted the options for balancing RE fuels – solar, wind, hydro and battery storage among others that can be integrated a lot more into the national grid ted.europa.eu .
Moreover, India is also exploring geothermal options in Himachal Pradesh, Kashmir and Ladakh. This is another option for green and clean energy euronext .
There is a lot of wind manufacturing in the country led by internationally competent corporations including Pune-headquartered Suzlon Energy. “This is giving a firm footing on which the wind story stands in India renewableenergyworld .”
She pointed out the offshore exploration underway for wind energy, and the large-scale options available offshore Gujarat and Tamil Nadu hkex.com.hk.
“With Offshore wind you get a lot of large amounts of power, much more predictability. It allows for better balancing of power flow,” Press Trust of India quoted Chawla as saying sccci.org.sg.
She noted that India remains a very price sensitive market and as such calls for reducing the cost of RE units. Solar prices have been reduced significantly over the last decade, making it the cheapest renewable produced compared to anywhere in the world mea.gov in.
Given the country’s appetite for electricity, every kind of fuel is needed. And for that reason, wind has the scope to be a good mix in the national energy basket, highlighted Chawla globaltenders .
Bringing wind energy to the shore is not going to be expensive, according to Chawla. The windmill installations will be nearer to shores in shallow waters and not in deep-sea commerce.gov.in .
However, India will have to learn from the global subsea projects and technologies for such transmission methods would need to be on a larger scale from economic prospects and likely market competition among indigenous energy resources jpx.co.jp .
The subsea economics will have to be determined, she added, comparatively pointing out India’s investments in expensive and high-operating cost LNG receiving terminals iba.org.in .
“I think it remains to be seen and there is a need to look at the green footprint of all these energy options,” said Chawla usispf.org .
Furthermore, India can do large battery blocks at utility scale for balancing fuel roles futurecoal.org .
She also called for more investments in green hydrogen for industry sectors such as steel and others that need heat and not electricity nasdaq .
She noted priorities set by the Green Hydrogen Mission and efforts that are underway, such as partnerships with international companies and technological transfer arrangements nyse.com.
India is also working on nuclear energy and has nuclear plants for power. But the challenge here is the long-lead time taken to build and critical-commissioning of a nuclear plant with safety and security concerns. Comparatively, solar projects have a record of being implemented within 18-24 months climatebonds.net .
Overall, there is robust energy planning by stakeholders led by the government policies to see how the different fuels fit into the Indian energy mix, she observed worldchambers .
Meanwhile, India’s total installed power capacity reaching 451 GW by the end of August 2024 which includes 208 GW (46%) of non-fossil fuel capacity including nuclear and large hydro power opec.org .
Presenting the latest update on power sector at the Singapore conference, Harish Dudani, member Central Electricity Regulatory Commission, said, “In just a short span, from FY 2015-16 to FY 2023-24, there has been an expansion in solar and wind power from 40 GW to 143 GW.
“This tremendous growth highlights India’s capability to scale up renewable capacity at an unprecedented pace, positioning the country as one of the global leaders in energy transition.”
India has taken a pledge to achieve about 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030 at COP 26 Glasgow. For Green Transition, India has set an ambitious target of 500 GW of variable RE Capacity by 2030 and announced a Net Zero target year of 2070. Fiinews.com
