India is setting its goals in the energy sector according to Prime Minister Narendra Modi’s vision to make India energy independent by 2047. Union minister for power, new and renewable energy RK Singh told the delegates of a Virtual Energy Industry Roundtable on Thursday that the power ministry has begun work to achieve the goal.
RK Singh was addressing the US India Strategic Partnership Forum and industry leaders on September 16 in New Delhi.
“India has set an ambitious target of having 175 GW capacity of renewable energy by 2022 and 450 GW renewable energy generation capacities by 2030. India has reached 100 GW through its already installed Solar and Wind Capacity and if Hydro capacity is added then the total installed renewable capacity is 146 MW. Moreover, 63 GW of renewable capacity is under construction which makes India one of the fastest growing economies in terms of renewable capacity addition,” RK Singh said.
The power minister told the delegates that India and USA have similar goals and share the same zeal towards climate change issues. “We want to have a partnership which can be an inspiration to the rest of the world on the fight towards mitigating climate change. The industry plays a critical role in this partnership.”
The address of the power minister RK Singh was followed by discussion with industry participants which was moderated by Nolty Theriot, Senior Vice President – USISPF. The interaction was significant given the recently concluded US-India Strategic Clean Energy Partnership (SCEP) dialogue. The interaction also provided a platform for the private sector to give inputs on how energy cooperation between the US and India can support sustainable, technology and infrastructure developments and facilitate investments to create opportunities for businesses and people, while being mindful of the need to create low carbon pathways.
Power minister RK Singh informed the delegates that India would be conducting competitive bids for green hydrogen in next few months to pave the road for viable usage of hydrogen as a fuel.