BENGALURU: Union Minister for Power, New and Renewable Energy RK Singh said here on Sunday that the government is not looking at privatising distribution of power, but creating a platform to foster competition so that consumers get quality power supply at affordable rates.
On the first day of the three-day First Energy Transitions Working Group Meeting, as part of the G20 Summit, Singh said that at present, power supply remains with escoms (electric supply companies), while a parliamentary committee is working on amending laws to allow private players to supply power that will give consumers a choice. He said the grid belongs to the Central government, while the distribution rests with state governments. To make power supply more affordable, the supply chain that is an issue needs to be addressed.
Even as the ministry is emphasising on green energy, the dependence on coal cannot be completely eliminated until there is an adequate and viable storage mechanism for renewable energy, he said. “I am not going to compromise on the availability of energy as it is required for the country’s growth. India is growing at 7 per cent and we will grow at 9-11 per cent. We shall provide energy wherever it comes from. If not coal, then gas, but the latter generates methane which is worse,” he pointed out.
He said the challenges ahead are offshore wind power, green hydrogen, strengthening battery storage and grid strengthening. He said India is the only major economy in the top five in the Global Climate Change Performance Index. Since the target of 40 per cent power generation from renewable sources by 2030 was already achieved in November 2021, the new target set is to produce 500 gigawatts of power from renewable energy sources by 2030. The plan is to generate 6 million tonnes of green hydrogen energy, which will require an installed capacity of 1,50,000 megawatt, he said.
Carbon capture utilisation and storage focus at ETWG
Participants in the first Energy Transitions Working Group Meeting, as a part of the G20 Summit, on Sunday stressed upon the storage of power. At the seminar on Carbon Capture Utilisation and Storage (CCUS), delegates discussed various options and modes on available technologies to ensure that the net zero goal is achieved. The study Report on CCUS - Technology Gaps and International Collaboration was also released. Dr V K Saraswat, Member of NITI Aayog; Alok Kumar, Secretary, Union Ministry of Power; Gurdeep Singh, CMD, NTPC Ltd; Ujjwal Kanti Bhattacharya, Director, Project, NTPC Ltd stressed on the importance of technologies. All of the dignitaries emphasised upon several important carbon dioxide emission mitigation measures and key green initiatives being spearheaded by India. Over 200 dignitaries, speakers, panellists and delegates from various countries participated in the seminar, where they shared their knowledge and ideas pertaining to CCUS.