India's Clean Energy Vision: Reaching 750 GW by 2030
Key Ideas
- Former NITI Aayog CEO Amitabh Kant urges India to target 750 GW of renewable energy by 2030 and transition to being a clean energy exporter.
- Strong financial systems, including escrow accounts, are highlighted as crucial to attract private investments for renewable projects.
- Focus on green hydrogen production and decarbonization of hard-to-abate sectors like steel and cement is emphasized for achieving clean energy goals.
- Improvements in energy infrastructure, battery storage, and international financial support are key factors in India's renewable energy ambitions.
Former NITI Aayog CEO Amitabh Kant has called for India to set a goal of reaching 750 gigawatts of renewable energy capacity by 2030 and become a clean energy exporter. Kant emphasized the need for establishing robust financial systems, such as escrow accounts, to attract private investments for renewable projects. He highlighted India's objective to surpass 500 GW of non-fossil fuel-based electricity and the importance of transitioning from being a fossil fuel importer to a clean energy exporter. Kant stressed the significance of producing green hydrogen and decarbonizing sectors like steel, cement, and transport. He outlined the necessity for financial support from external sources and the utilization of international financial institutions to facilitate investments in renewable energy in India.
Kant also underlined the importance of energy infrastructure improvements, including smart grids and green energy corridors, to support India's renewable energy targets. He mentioned the critical role of battery storage for electric mobility and the adoption of green hydrogen. Tripling renewable energy capacity and doubling energy efficiency were key priorities discussed during India's G20 leadership. Kant pointed out the need for climate action, emphasizing the importance of climate finance and technology support from developed countries. Despite challenges posed by global crises and COP meetings, Kant urged for continual advocacy for clean energy initiatives and climate action. The article concludes with insights on the significance of global cooperation and financial systems in achieving India's clean energy export goals.
Topics
India
Green Hydrogen
Renewable Energy
Energy Infrastructure
Decarbonization
Exporter
Financial Systems
Global Funds
G20 Leadership
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