Balancing Economic Viability with Green Investments: India's Industrial Shift Towards Decarbonisation
Key Ideas
  • Union Minister outlines a four-pronged approach to industrial decarbonisation, including green hydrogen adoption and carbon capture.
  • Challenges in decarbonisation highlighted, emphasizing the need for policy support and long-term investment viability.
  • Steel sector showcases incremental steps towards decarbonisation through green hydrogen integration.
  • Panelists stress the importance of policy alignment, technology advancement, and swift action by industries for a successful energy transition.
Industry leaders and experts at the India Energy Transition Summit stressed the pivotal role of the industrial sector in India's journey towards a sustainable energy future. Union Minister Shripad Yesso Naik outlined a comprehensive approach to industrial decarbonisation, focusing on energy efficiency, electrification, green hydrogen adoption, and carbon capture. Challenges in decarbonisation, such as those faced by the refining operations of Nayara Energy, were discussed, highlighting the importance of policy support and long-term investment viability. The steel sector, represented by Jindal Steel & Power, showcased their efforts towards decarbonisation through the integration of green hydrogen. The economic rationale for adopting renewables was emphasized by Ampin Energy Transition's MD & CEO, Pinaki Bhattacharyya, citing cost savings and competitive advantages. Healthcare sustainability challenges were also addressed, emphasizing the need for operational efficiency. Policy alignment and technological advancements were deemed imperative for a successful energy transition. With India aiming for a 2070 net-zero target, the industry's ability to balance economic viability with green investments will be crucial in determining the pace of the energy transition.
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