Last Updated: August 26, 2021
- Considering the pace of development in the energy sector, India is determined to not only achieve, but to exceed its NDC commitments well within the committed time frame, the minister added.
- Mr. Singh made the statement while delivering the keynote address at the recently held “INDIA-ISA Energy Transition Dialogue 2021,” organised by the International Solar Alliance and the Ministry of New and Renewable Energy.
India has already achieved emission reduction of 28% over 2005 levels, against the target of 35% by 2030 committed in its NDC (Nationally determined contributions), which makes India one of the few countries globally that have kept to their Paris Climate Change (COP21) commitments along with an exponential increase in renewable energy capacity, said Union Power and New and Renewable Energy minister Raj Kumar Singh.
Considering the pace of development in the energy sector, India is determined to not only achieve, but to exceed its NDC commitments well within the committed time frame, the minister added.
Mr. Singh made these statements while delivering the keynote address at the recently held “INDIA-ISA Energy Transition Dialogue 2021,” organised by the International Solar Alliance (ISA) and the Ministry of New and Renewable Energy (MNRE).
He added that the key is to allow the regulatory and policy support to keep the sector afloat till the supply-side strengthens, technology develops, and competitive market takes root resulting in a fall in prices, and the industry becomes self-sustainable. It is anticipated that by 2050, 80-85% of India’s overall power capacity will come from renewables, said Singh.
India has already touched 200 GW of peak demand, in addition to reducing emissions by 28% from 2005 levels. The demand had crossed what it was during pre-COVID time and it is expected that electricity demand will continue to rise. This enables space for adding more renewables capacity, but that will call for power system flexibility and introduction of various storage technologies.
While 100 GW of capacity has been installed and operationalised in the country, 50 GW of additional capacity is under installation and another 27 GW is under tendering process. Further, as on 31st July 2021, 38.5% of India’s installed power generation capacity is based on clean renewable energy sources. Presently, India stands at the fourth position in the world in terms of installed RE capacity (fifth in Solar and fourth in Wind energy capacity)
The minister said that an active private sector continued to strengthen the supply side through capacity building exercises. The story is expected to be repeated in the years to come with advanced technologies, such as energy storage and green hydrogen. Dedicated Green Energy Corridors initiated by the MNRE have made it easier for renewable energy developers to avail grid connectivity and evacuate up to 40,000 MW of large-scale renewable energy from renewable energy-rich parts of India, he said.
“I hope this dialogue kicks-off an exchange of best practices between India and ISA Member countries, while also outlining the future roadmap as a collective step towards achieving climate goals. I hope this makes the road to transition easier for many countries where many communities still rely on fossil fuels and need national decarbonisation strategies to transition smoothly,” Singh said.
The Dialogue featured two panel discussions and a presentation by the Ministry of New and Renewable Energy (MNRE) on Citizen Centric Energy Transition- India Story. India’s energy transition journey was highlighted in the presentation.