Addressing the MNRE-FICCI – SECI occasion on Monday, Union Minister for Power, New and Renewable Energy R.Okay. Singh emphasised that the world is on the cusp of transformation, and instant corrective steps are wanted to mitigate local weather change. He highlighted that power transition must be step one on this route.
He mentioned that India is already forward of what we pledged in our Nationally Determined Contributions (NDCs) saying that, “Already 39 per cent of our installed capacity is from non-fossil based sources. By 2022 we will reach our target of 40 per cent.”
Highlighting that transmission is a problem and getting it into place is figure in progress, he mentioned, “We are launching the Green Corridor Phase 2 and we are generally expanding transmission to put in place systems for renewable power evacuation from sites where irradiation is high, or wind speed is high.”
Singh additionally mentioned that intermittency of renewable energy is one other problem for all the world highlighting that battery storage per unit at the moment is excessive and desires to come back down. He added that Government is popping out with bids for battery storage.
There is a Production Linked Incentive for battery storage already in place and demand must be inspired to carry down the costs of storage, Singh added.
Speaking on the alternatives for inexperienced hydrogen in India, Singh mentioned, “MNRE will work out with bids for electrolysers and that mandates for green hydrogen consumption in refining, fertilizer, piped natural gas.”
Singh additionally mentioned that Solar Energy Corporation of India (SECI) has had promising development and is predicted to proceed this momentum as new and rising areas within the clear power area are set for a growth and acknowledged his imaginative and prescient of SECI turning into an power conglomerate of the brand new world. India has launched into an thrilling journey and is treading the place nobody has ventured earlier than, and SECI will proceed to work in direction of assembly the ambition of 450 GW by 2030.