India Energy Forum
#GS3 #Energy #SustainableDevelopment
Prime Minister Narendra Modi has delivered the inaugural address at 4th India Energy Forum recently. The theme of this edition is “India’s Energy Future in a world of Change”.
Highlights of the PM’s address
- The Prime Minister pointed that India is the third largest and the fastest growing aviation market in terms of domestic aviation and Indian carriers are projected to increase their fleet size from 600 to 1200 by 2024.
- The Prime Minister said India’s Energy Plan aims to ensure energy justice while fully following India’s global commitments for sustainable growth. This means more energy is needed to improve the lives of Indians with a smaller carbon foot-print. He envisioned India’s energy sector to be growth centric, industry friendly and environment conscious. He said that is why India is among the most active nations in furthering renewable sources of energy.
- The Prime Minister listed the interventions which made India the most attractive emerging market for clean energy investment viz, distributing more than 36 crore LED bulbs, reducing the cost of LED bulbs by 10 fold, installing over 1.1 crore smart LED street-lights in the last 6 years. He said these interventions have enabled an estimated energy savings of 60 billion units per year, estimated green-house gas emission reduction of over 4.5 crore tonnes of Carbon dioxide annually and monetary savings of around Rs. 24,000 crore annually.
- The Prime Minister remarked that India is well on track to meet the global commitment. He said the target to increase the installed renewable energy capacity to 175 GW by 2022 has been further extended to 450 GW by 2030.
India’s energy map
- The Prime Minister said India’s energy map will have seven key drivers –
- Accelerating our efforts to move towards a gas-based economy.
- Cleaner use of fossil fuels particularly petroleum and coal.
- Greater reliance on domestic sources to drive bio-fuels.
- Achieving the renewables target of 450 GW by 2030.
- Increasing the contribution of electricity to de-carbonise mobility.
- Moving into the emerging fuels including hydrogen.
- Digital innovation across all the energy systems.