(MENAFN- KNN India)
New Delhi, Aug 24 (KNN)
In a bold move towards a greener future, India has announced plans to implement 40GW of battery storage and 90GW of pump storage capacity by 2030, according to Srikant Nagulapalli, Additional Secretary at the Ministry of Power.
The announcement came during the inaugural Indian Electrical and Electronics Manufacturers' Association (IEEMA) industry Conclave 2024 in Delhi, themed "Moving Towards an All-Electric Future – Partnering India's energy Transition."
Nagulapalli highlighted India's commitment to sourcing 50% of its power capacity from non-fossil fuels by 2030. The ambitious plan includes adding 85GW of solar capacity, focusing on land-rich states.
"Our goal is 500GW from non-fossil sources, including 225GW from solar and wind," he stated, emphasising the pivotal role of states like Andhra Pradesh, Tamil Nadu, and Gujarat in advancing green hydrogen initiatives.
India's rapid growth in the energy sector was underscored by IEEMA President Hamza Arsiwala, who noted that the country is now the third-largest producer and consumer of electricity globally. With an installed power capacity exceeding 440GW and plans to add another 350GW by 2030, India is poised to meet the energy demands of its burgeoning economy.
Industry leaders at the conclave stressed the importance of innovation and infrastructure in achieving India's energy goals. Pratik Agarwal, Managing Director of Sterlite Power, reframed the ongoing changes as an "Energy Revolution," highlighting the crucial role of India's robust power grid in facilitating this transformation.
Deepak Sharma, MD & CEO of Schneider Electric, emphasized the need to balance growth with environmental concerns, stating that India's progress hinges on energy efficiency and sustainability.
The conclave also addressed challenges in local manufacturing, with Kamran Rizvi, Secretary of the Ministry of Heavy Industries, calling for proposals where 70% of investment would come from the government and 30% from corporations to boost technological development and reduce import dependency.
As India accelerates its energy transition, the focus on key states and significant investments in green hydrogen, battery storage, and pump storage capacities signals a transformative period for the country's power sector, positioning India as a global leader in sustainable energy development.
(KNN Bureau)
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