IEEMA 2024: Shaping India’s Clean Energy Future and Driving Innovations
At the IEEMA Industry Conclave 2024, leaders discussed India's clean energy future, with a focus on sustainability, local manufacturing, and innovations in electrical infrastructure to support the country’s energy transition.
August 23, 2024. By EI News Network
The Conclave highlighted India’s ambitious plans to enhance its energy infrastructure and sustainability. Hamza Arsiwala, President of IEEMA, emphasised India’s significant progress, noting that as of March 2024, India is the third-largest global producer and consumer of electricity, with a total installed capacity exceeding 440 GW. He outlined that an additional 350 GW is expected by 2030, reflecting India’s commitment to meeting the energy demands of its growing economy.
Speaking at the conference, Srikant Nagulapalli, Additional Secretary, Ministry of Power, said, “We aim to have 50 percent of India’s power capacity from non-fossil sources. Despite growing power demand, we’re increasing renewable energy significantly. By 2030, we plan to add 85 GW of solar capacity and 40 GW of storage. Our goal is 500 GW from non-fossil sources, including 225 GW from solar and wind. Projects are progressing in land-rich states, and green hydrogen efforts are advancing in Andhra Pradesh, Tamil Nadu, and Gujarat. We’re also focusing on 40 GW of battery storage and 90 GW from pump storage. IEEMA has raised CRGO issue and is working with us to resolve the challenges.”
Hamza Arsiwala, President, IEEMA stated, “We have the potential to redefine energy infrastructure and create a sustainable future for generations to come. This gives us the platform to explore these possibilities and share best practices. As of March 2024, India has become the third-largest producer and consumer of electricity globally, with an installed power capacity exceeding 440 GW, and another 350 GW set to be added by 2030. It is a clear indication of a commitment to meeting the energy demands of a rapidly growing economy.”
Pratik Agarwal, MD, Sterlite Power said, “We are witnessing a change in the energy landscape owing to increasing demand and emergence of AI. I don’t want to call it “energy transition”, I would like to term it as 'Energy Revolution'. India as a country is growing at a significant rate with nearly 6-8 oercent growth every year. I believe that the ‘Greenification of India will happen at a much faster pace, owning to the quality of infrastructure that we have in the country. The robust power grid that we have in the country is capable of transmitting electricity from Kashmir to Kanyakumari. This transformation will play a pivotal role in taking the country towards cleaner and more sustainable future.”
Deepak Sharma, MD and CEO, Schneider Electric, noted, "India’s journey from ‘Vikas’ to ‘Viksit’ is a testament to our nation’s potential. We believe that there’s a huge opportunity for growth and hope in the country and energy will play a key role in building a prosperous future. However, the question remains: how can we achieve this without compromising our planet? This is where companies like ours come in which is by bringing energy efficiency and sustainability story to the forefront."
Praising IEEMA for being a dependable partner even while dealing the most stringent pricing situations of government sector Kamran Rizvi, Secretary, Ministry of Heavy Industries, Government of India said, “Salutations to IEEMA for being the only Association which is recognised by the government whose price variation clause is recognised as valid. This has come I think through a great deal of effort by the organisation, and I must compliment you on that. Technology needs to be developed, and with the support of ministry of heavy industry we are looking to receive proposals where 70 percent of investment will come from the government and 30 percent will need to be brought in from the corporation. In 78 years of independence IEEMA has developed immense capabilities in the country, it is now time to build for the world and ministry of heavy industry will support you in that endeavour."
The Conclave provided a platform for networking and partnership building, aimed at advancing the electrical industry and promoting sustainable practices.
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