BENGALURU: The increasing demand for power, especially renewable energy and the high tariffs being imposed by the United States have come as an opportunity for the Indian energy sector especially for the southern states, which have the highest potential, to quickly grab, said Pinaki Bhattacharyya, Founder, Managing Director and CEO, Ampin Energy Transition Private Limited.
Speaking to the media at the sidelines of the day-long seminar on Renewable Energy Transition for Commercial and Industrial Consumers in the Southern Region, he said the cells, modules, solar and wind panels were manufactured in India, but were being exported to other countries, leaving the demands inside the country dry. Now the relations of India with its neighbouring countries are not good and the tariff revisions imposed will help improve the production and costing for the Indian market. This will only strengthen India’s energy sector in the coming times, he said.
The Union government has set a net-zero target by 2070 and 500 gigawatt of renewable energy (RE) generation by 2030, of this 200 giga watt is being generated and to meet the target at least 50 gigawatt needs to be generated year-on-year. Karnataka has also set a target of increasing its RE generation from the existing 24 gigawatt to 38 gigawatt in the next five years.
Sudeep Jain, Additional Secretary, Ministry of New and Renewable Energy, said a scheduled plan for the next five years down the line has been prepared. While all states are increasing RE generation, southern states are taking giant leaps. Tamil Nadu and Karnataka are contributing over 20 gigawatt solar energy alone. And in offshore wind power generation, Tamil Nadu and Gujarat have high potential.
Jain added that there is also a lot of potential in battery storage, especially when the costs are low. There is also potential and demand for green and liquid hydrogen and ammonia-based power, especially when the costs are low.
Also present on the occasion, Additional Chief Secretary, Energy Department, Gaurav Gupta said, efforts are being made to increase RE production. There is a need for consumers, industries and other stakeholders to come together. Work on creating sufficient storage facilities- battery and pumped storage- is being done. Work on improving grid stability is also being done. The companies also need to speed up in supporting the government in power storage during non-RE-hours.