Renewables to account for 40 per cent of India’s energy mix by 2030: Power Minister R K Singh
Renewable energy sources – including solar and wind power – currently account for around 16.10 per cent of the energy basket.
New Delhi: India’s energy consumption is set to double over the next 6-7 years while the share of renewables in the country’s energy supply is likely to rise to 40 per cent by 2030, power and renewable energy minister R K Singh said here.
Renewable energy sources – including solar and wind power – currently account for around 16.10 per cent of the energy basket. Speaking Speaking at the curtain raiser ceremony of the second edition of the Global Renewable Energy (RE) Investors Meet and Expo (RE-Invest 2017), Singh noted that India would continue to grow at a brisk pace and at the same time decrease its carbon footprint.
“India invites all nations to partner in the endeavour to harness clean energy and save the planet. Investing in the renewable energy sector not only helps in reduction of global carbon footprint but also turns out to be more economical,” Singh said. He was speaking at the second edition of the Global Renewable Energy Investors Meet and Expo (RE-Invest 2017).
Also present on the occasion was Ruateki Tekaiara, the minister for infrastructure and sustainable development of the Republic of Kiribati, who signed the framework agreement of the International Solar Alliance (ISA). Kiribati became the 41st country to sign the agreement.
India will also host RE-Invest 2017 between 7 December and 9 December 2017 with France as the partner country for the event. Secretary of Ministry of New and Renewable Energy (MNRE) Anand Kumar, who was also present on the occasion, informed that event will be inaugurated by Prime Minister Narendra Modi.
The event will witness deliberation on strategies for development of renewable energy sources and new areas of interest for foreign investors including electric mobility, electricity storage solutions and green energy corridors. The event will be attended by the heads of international agencies including the International Energy Agency (IEA), International Renewable Energy Agency (IRENA) apart from multilateral financing institutions.
During RE-Invest 2017, the government will review the commitments made in RE-Invest 2015 by the industry, banks and manufacturers. The industry had committed 293 Gigawatt of renewables in 2015 and against this, 39.3 GW capacity is commissioned or is under implementation, according to MNRE.
Speaking at the same event, French Ambassador Alexandre Ziegler said French companies are eager to invest in the Indian RE sector. “ISA has been conceived as an action-oriented organization and it brings together countries with rich solar potential to aggregate demand for solar energy globally, thereby reducing prices, facilitating the deployment of existing solar technologies at scale, and promoting collaborative solar R&D and capacity,” he said.
ISA’s Interim Director General Upendra Tripathi was also present on the occasion. He informed ISA Agreement has so far been signed by 40 countries and 10 of them have deposited instruments of ratification while five more countries have confirmed ratification.
Source: energy.economictimes.indiatimes
