“There is a huge focus on renewable energy because of our climate related goals. In addition to solar panels and wind-turbines, we should invest in technologies of forward and backward integration” MEA secretary.
Energy Security is of primary importance in the current context. Speaking at the CII Energy Security Conference, Prabhat Kumar, Additional Secretary, Ministry of External Affairs elaborated on how India should focus on self-sufficiency in all aspects of energy ecosystem to become energy independent before the 100th year of independence.
According to Kumar, “We have to aim for self-sufficiency in as many aspects of the energy ecosystem as possible including exploration, storage, transportation, retailing of energy, insurance, other midstream and downstream activities.Hydrocarbons should only be a small part of the energy economy that we are aiming to build.”
He added that India should also develop storage capacities, not only in oil but also natural gas, that can help the country mitigate any energy crisis.
Navneet Mohan Kothari, Joint Secretary, Ministry of Petroleum and Natural Gas, emphasised the need to protect citizens from the volatility in energy markets, “The government is focusing on exploration so that India can reduce reliance on imports and insulate the country from effects in the energy sector arising from geopolitical situations.”
“As the energy demand is expected to grow manifold, we may need to embrace all options including renewables and fossils. Obvious opportunities will be in the solar and wind sector as well as energy efficiency companies,” said T Srinivas, COO, Refinery and Marketing, Reliance Industries.
However, technologies in alternative and renewable energies are still being perfected and players are facing challenges in delivering projects that they have bid for, “There is a huge focus on renewable energy because of our climate related goals. In addition to solar panels and wind-turbines, we should invest in technologies of forward and backward integration” Kumar of MEA added.
https://www.financialexpress.com/defence/india-should-aim-to-be-energy-independent-before-2047-says-mea-secretary/2803304/?utm_source=edu_landing_page&utm_medium=article_listing_widget&utm_campaign=Tags
