New Delhi: Union Power Minister RK Singh on Saturday said that despite India’s per capita being one of the lowest in the world, it has emerged as a leader in energy transition and climate action.
The Minister made these remarks while holding meeting with Frans Timmermans, Executive Vice President, European Green Deal, European Union in New Delhi.
The meeting was held to discuss cooperation under the EU – India Clean Energy and Climate Partnership.
Union Minister informed the visiting EU delegation that as “India is growing, the power demand is accelerating. While the established capacity in India is 416 GW, it is going to double by 2030”
R K Singh said to ramp up renewable energy capacity in India the manufacturing capacity for the most advanced solar cells and panels is coming up; and by 2030, total manufacturing capacity of 80 GW will come up.
“This will meet India’s requirements and provide surplus for exports. This will address the supply chain issues of the world” he added.
The Minister stated that storage is needed in order to provide round-the-clock renewable energy and the transition to Net Zero.
Mr Singh said India has already come up with a bid for Production Linked Incentive for energy storage and it is planning to have one more bid.
He sought also the cooperation of the EU in encouraging other countries too to add manufacturing facilities for energy storage so that the price of storage comes down.
Over the Green Hydrogen, the Minister emphasised that “it will have to be on the basis of free and open trade, without barriers”.
Speaking at the event the Executive Vice President of European Green Deal Frans Timmermans appreciated India for its leadership in Renewable energy and suggested that the two sides find ways to bring the agenda of energy efficiency to the global stage, and help set global energy efficiency targets.
He spoke of the need for global targets in introduction of renewables and said that we need to look at developing industrial ecosystems which promote renewables.
“The EU is developing new generations of solar panels and that green hydrogen is also taking off and Europe will become a truly global market” he added.
The two sides discussed the role of International Solar Alliance in bringing solar energy to the millions of people in Africa without access to energy.
“We need to support them to help them get clean energy and we need to get countries to work with the International Solar Alliance to contribute to clean energy”, said the Minister.