Energy Transition Committee

Economic Survey FY25 warns of energy risks amid India's green transition

Chief Economic Advisor V. Anantha Nageswaran, in the survey's preface, emphasised the need for "strategic thinking" to avoid geopolitical risks

Need energy transition without compromising economic growth: CEA Nageswaran

Chief Economic Advisor (CEA) V Anantha Nageswaran on Thursday underlined the need to be cautious about energy transition and it should be without compromising growth. "We need to do it carefully so that we do not throw the baby of economic growth out with bath water in the name of managing energy transition and tackling climate change. Without growth there are no resources to invest for climate change management," he said while speaking at the Global Economic Policy Forum organised by CII here Citing negative impact, he said, Europe is facing an economic doldrum because of a sharp rise in industrial electricity prices partly because of focus on renewal energy and energy transition. He said that this is not just a political challenge, but also an economic one, affecting not only India but the entire global South. Assuaging concerns of slowdown, he said, India is on track to achieve 6.5-7 per cent GDP growth for the current fiscal pencilled in Economic Survey. He, however, said, the

India ranks 63rd on Global Energy Transition Index, Sweden on top: WEF

India has been ranked 63rd on a global Energy Transition Index released on Wednesday by the World Economic Forum, which said the country has shown significant improvement across energy equity, security and sustainability. European nations dominated the top ranks with Sweden topping the index, followed by Denmark, Finland, Switzerland and France in the top five. China was ranked 20th. The improvement shown by India and some other developing countries such as China and Brazil assumes significance as 83 per cent of countries have moved backwards from last year in at least one of the three energy system performance dimensions - security, equity and sustainability. Taking note of various initiatives taken in India, the World Economic Forum (WEF) said the country is leading the way in creating outcomes that can be replicated elsewhere. It said the governments can also consider creating awareness and policy interventions, such as guidelines for energy-efficient built infrastructure and .

India remains a bright spot amid geopolitical tensions, says Nadir Godrej

'There are geopolitical challenges, but it does not affect India that much. India is in a bright spot'.

India considering development of SMRs to fulfil clean energy transition

India is considering steps for the development of small modular reactors to fulfil its commitment to clean energy transition, Union Science and Technology Minister Jitendra Singh said on Wednesday. In a written reply to a question in the Lok Sabha, Singh said small modular reactors (SMRs), with their unique features of modularity, scalability, small footprint and improved safety, present themselves as an attractive option for repurposing of retiring coal-based thermal power station sites. "In order to move away from fossil fuel consumption, SMRs can be installed and operated for repurposing the ageing fossil fuel-based power plants," said Singh, who is the Union Minister of State in the PMO and also oversees the functioning of the Department of Atomic Energy. Singh said there is a thrust the world over for a strategy to use nuclear power that can reduce the reliance on fossil fuels over the coming years. He said deploying SMRs across the country, especially in locations not suitabl

AmpIn Energy to set up 33 MW solar plant in Maha, signs pact with Varroc

AmpIn Energy Transition will set up a 33 megawatt solar power plant in Maharashtra to supply green energy to auto-components maker Varroc. A power purchase agreement (PPA) has been signed between the two companies in this regard, AmpIn said on Wednesday. "AmpIn Energy Transition and Varroc announce a partnership to harness 33.1 MWp of solar power for Varroc's manufacturing facilities in Maharashtra. The collaboration leverages AmpIn's solar portfolio in Maharashtra, inclusive of its state-of-the-art 105 Megawatt peak (MWp) solar park situated in Parbhani," the statement said. The company did not disclose the value of the project. The initiative is expected to fulfill 65-75 per cent of the power needed across seven manufacturing units of Varroc. The plant is anticipated to help reduce 43,296 tonnes of CO2 emissions annually, Pinaki Bhattacharyya, CEO and MD of AmpIn, said. Tarang Jain, MD of Varroc, said, "through this alliance, we envisage a significant reduction in our carbon ...

Underachieving on climate

More action needed from G20 on energy transition

ONGC to invest Rs 2 trn in energy transition projects, says chairman

State-owned Oil and Natural Gas Corporation (ONGC) will invest about Rs 2 lakh crore to achieve zero carbon emissions by 2038, its chairman Arun Kumar Singh said on Tuesday. The firm will invest Rs 1 lakh crore by 2030 in setting up 10 gigawatts of renewable energy capacity, green ammonia plant, and offshore wind energy projects, he told reporters here. The remaining would flow thereafter to achieve Scope-1 and 2 net zero carbon emissions. All this while it continues to hunt and produce more oil and gas. "It is not an 'or' strategy. It is an 'and' story. ONGC will continue to invest in oil and gas exploration and production and also in energy transition projects," he said. The company will pursue both simultaneously. "ONGC has enough heft, financial muscle to do both," he said. The company currently has 189 MW of capacity to generate electricity from renewable sources. It is targeting 10 GW by 2030. The firm already has signed MoU for 5 GW in Rajasthan and is scouting for projec

Istanbul to Goa: G20 nations avoid uniform approach in energy transition

Countries rarely agree on global policy, causing differences that have lingered on

Top headlines: RIL Q1 net falls 11% on weak O2C biz, GST evasion, and more

Business Standard brings you the top headlines at this hour

G20 Energy Transitions Group takes note of Green Hydrogen Innovation Centre

The G20 Energy Transitions Working Group meeting in Goa took note of the Green Hydrogen Innovation Centre and Global Biofuel Alliance proposed by India, a senior government official said here on Thursday. Union power secretary Pankaj Agarwal, who chaired the meeting, told reporters that there has been significant convergence on hydrogen-related issues. The working group has taken note of the Green Hydrogen Innovation Centre proposed by India and the Global Biofuel Alliance proposed to be launched by India, he said. The meeting will conclude later in the day. There has been substantive meeting of minds on low-cost financing for energy transition. The Working Group has taken note of the voluntary action plan proposed by India for doubling of pace of energy efficiency by the year 2030, he said. The ETWG meeting witnessed proactive engagement from more than 115 delegates representing G20 member countries and nine invitee countries, Agarwal said. The discussions centered around critic

G20 Energy Transitions Working Group's fourth meeting begins in Goa

Nearly 100 delegates from G20 member countries, special invitees and several international organisations are participating in the fourth Energy Transitions Working Group (ETWG) meeting which began in Goa on Wednesday. There are six priority areas outlined under India's G20 Presidency, reflecting India's focus on various aspects of energy transition and building global cooperation toward sustainable and clean energy development, an official said. The two-day meeting, chaired by Pankaj Agarwal, the ETWG chair and secretary of the Union Ministry of Power, is being held at a hotel near Goa's capital Panaji. Ministry of New and Renewable Energy secretary Bhupinder Singh Bhalla, Ministry of Mines secretary Vivek Bharadwaj, Ministry of Coal secretary Amrit Lal Meena are also participating in the deliberations, the official said. The priority areas for discussions include energy transitions through addressing technology gaps, low-cost financing for energy transitions, energy security and .

Energy transition to become a $23 trn market by 2030: US Energy Secretary

The global energy transition -- the shift from fossil-based fuels such as oil and coal to renewable sources like wind and solar -- is estimated to become a USD 23-trillion market by 2030, US Energy Secretary Jennifer Granholm said on Tuesday as American companies seek closer ties with Indian firms to tap this opportunity. Speaking at the ministerial meeting of the US-India Strategic Clean Energy Partnership (SCEP) here, she said the US will have to add 2,000 gigawatts of clean energy to its electric grid by 2035 to meet the goal of using 100 per cent electricity from clean sources. "So that means we have to do everything, everywhere, all at once. And so in order to do that, we have to partner and we've got to learn from those who are doing it well and can scale (up) really well," she said. India has announced aims to reach net zero emissions by 2070 and to meet 50 per cent of its electricity requirements from renewable energy sources by 2030. It is targeting installing 500 gigawatts

G20 Energy Transitions Working Group meet to begin in Goa on Wednesday

Over 100 delegates from G20 countries will participate in the two-day Energy Transitions Working Group (ETWG) meeting beginning on Wednesday in Goa to deliberate on building global cooperation toward sustainable and clean energy development. The 4th ETWG meeting under India's G20 presidency will be chaired by Union Power Secretary Pawan Agarwal, a power ministry statement said. Union New & Renewable Energy Secretary Bhupinder Singh Bhalla, Union Mines Secretary Vivek Bharadwaj and Union Coal Secretary Amrit Lal Meena, will also be part of the meeting. There are six priority areas outlined under India's G20 presidency. These are -- energy transitions through addressing technology gaps; low-cost financing for energy transitions; energy security and diversified supply chains; energy efficiency, industrial low carbon transitions, and responsible consumption; fuels for Future (3F); and universal access to clean energy and just, affordable, and inclusive energy transition pathways. The

Moving ahead with small modular reactors

Linking this new technology with private sector involvement signifies a shift in India's nuclear energy strategy

Accelerating India's energy transition

Low-carbon intensity pathways are superior strategies towards net zero for developing countries

India's transition to less polluting fuels faster than in other countries

The government reportedly is moving to encourage electricity grid battery production in India, which can make renewable energy supply a more stable source of power

India ranked 67th globally on Energy Transition Index, Sweden on top: WEF

The World Economic Forum on Wednesday ranked India at the 67th place globally on its Energy Transition Index and said it is the only major economy with energy transition momentum accelerating across all dimensions. Sweden topped the list and was followed by Denmark, Norway, Finland and Switzerland in the top five on the list of 120 countries. Releasing the report published in collaboration with Accenture, the WEF said the global energy transition has plateaued amid the global energy crisis and geopolitical volatilities, but India is among the countries that have made significant improvements. "India is the only major economy with energy transition momentum accelerating across the Energy Transition Index's equitable, secure and sustainable dimensions," the WEF said. "For example, despite continued economic growth, India has successfully reduced the energy intensity of its economy and the carbon intensity of its energy mix, while achieving universal energy access and effectively ...

PM Modi's visit: From seas to stars, technology seals India-US ties

'Technology' mentioned 44 times in the joint statement, up from five in 2020

India's energy transition beyond dependence on renewables

Ramping up nuclear power is one option but requires incentives for the sector