Energetica India Magazine March 2022

Going Green on Energy 48 energetica INDIA- Mar_2022 India has instilled new routes to fast- track its transition into clean energy and mobility over the last five years, which includes meeting the national contribu- tion to install 500 GW of renewable en- ergy capacity by 2028. Similarly, in the automotive industry, the Faster Adop - tion and Manufacturing of Electric Ve- hicles (FAME) II scheme supports the adoption of 7,000 electric buses, 5 lakhs electric three- wheelers, 55,000 elec - tric passenger cars, and 10 lakhs elec - tric two-wheelers, as reported by NITI Aayog and Rocky Mountain Institute (RMI). This series examines how India’s clean energy ecosystem has evolved and what is in store from a P eople, D evelopment and F inancial angle. People angle Currently India stands at the 5th posi- tion for installed capacity of renewable energy. Shri Nitin Gadkari, Minister for Road Transport & Highways, quotes that with continued policy support from the government and multi- stakeholder participation, India will surpass the tar - get of achieving 450 GW of renewable energy by 2030. What does it mean for our People – our working youth? This impetus on renew - able energy will generate employment opportunities in rural as well as urban areas. According to estimates from the Coun - cil on Energy, Environment, and Water (CEEW) and the Natural Resources Defense Council (NRDC), the Indian power sector could employ up to 3.5 mil- lion people by 2050 with the renewable energy sector employing more than 3.2 million people. There is potential to double employ - ment through the power sector by 2030 itself, by following ambitious decarbon - izing pathways. Within this, the solar and wind sectors will provide the highest number of jobs to people. Going green is surely at bloom for capi- talizing upon India’s demographic div - idend. Development angle Delving into clean transport, India is all set to launch ropeway, cable car and funicular rail. Currently, the country grapples with an uneven modal share with 71% of freight transport being based on road while only 17% being based on rail. This thereby presents a strong opportunity for grasping a fur- ther cost effective, clean, and upgraded transport system. In passenger mobili- ty, India has an opportunity to revamp its huge reliance on privately-owned and conventional vehicles and mark the way toward an electric and connected pas- senger mobility future. Technology related to energy storage plays a vital role in overall clean ener- gy transition. As per NITI Aayog and RMI, India’s energy storage market is expected to touch 1 lakh crore across sectors by 2030. The National Mission on Transformative Mobility and Bat - tery Storage, as announced in March 2019, is an initiative to set up a few large gigawatt-scale, export competitive inte - grated batteries and cell manufacturing plants in India. To have better infrastructure for re - newable energy, the government has launched the Logistics Efficiency En - hancement Program, which is poised to enhance infrastructure and information technology. The government of India desires to develop a ‘Green city’ in every state of the country which will flow eco- friendly power through solar rooftop systems in all its houses, as well as run on an electric mobility-enabled public transport system. In short, there is a lot in store for de- velopment as India further streamlines infrastructural frameworks and inte- grates requisite technology to establish a greener ecosystem. Ankur Malhotra Director, Mazars in India RENEWABLE POWER