India Is Producing More Energy Than Ever Before: Hardeep Puri

(MENAFN- IANS) New Delhi, Sep 21 (IANS) India is producing record levels of energy to achieve self-reliance in the power sector, supported by a diversification of its supply sources, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said at an industry event here.

"India is producing more energy than ever before... With the rapidly growing demand for energy, India has diversified its energy sources. Earlier, we imported from 27 countries; today, we import from 40 countries," the minister said.

Even for cooking gas, which earlier came predominantly from a single country, we have broadened our supply base. Today, our energy basket includes biofuels, green hydrogen, and other sources, the minister added.

India's economy is growing at approximately 6.5 per cent, with energy consumption increasing six times faster than the global average, the minister noted.

International agencies estimate that India will account for approximately 25 per cent of the increase in global energy demand over the next two decades.

India is undergoing a significant drive for energy security under the leadership of Prime Minister Narendra Modi, Puri said, adding that even as our consumption steadily grows, initiatives to strengthen and expand domestic production are afoot.

India has already taken major strides in green hydrogen, with the government allocating an annual production capacity of 862,000 tonnes to 19 companies. Additionally, 3,000 MW of annual electrolyser manufacturing capacity has been awarded to 15 firms.

The country has also become one of the world's fastest-growing renewable energy markets, with over 223 GW of installed capacity -- 108 GW from solar and 51 GW from wind -- and is targeting 500 GW of non-fossil capacity by 2030.

The minister earlier this month said that the natural gas contribution in the country's energy mix is set to rise from 6 per cent to 15 per cent by 2030.

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