BENGALURU: The Karnataka government expects an investment of Rs 2.5 lakh crore in the renewable energy sector by 2023, Additional Chief Secretary, of the Energy Department, G Kumar Naik, said here on Thursday.
He was speaking at a panel discussion on 'Reinventing the energy ecosystem: Future of energy generation in the world' at the ongoing GIM.
He said the department plans to set up a 10,000 MW unit under a public-private partnership model to store the renewable energy produced. The government is working on setting up a pump storage unit of 2,000 MW capacity in Sharavathi. Naik said that Karnataka is leading in the production of renewable energy, but there is a need to address ways to store the energy.
Adlan Ahmad, the CEO, of Petronas Hydrogen, said that with governments working on hydrogen energy, some companies, including his, are working on technologies where ammonia is produced by converting hydrogen, which is then stored and shipped. He said that while India has a lot of potential for round-the-clock green energy generation, land and other cost factors are expensive.
Kapil Maheshwari, the Leader, of Renewable Energy, RIL, said that in another year, India will be number 1 in net energy green hydrogen export. Work is also on in the 1-1-1 scheme where 1 kg of hydrogen energy will be sold for $1. Venu Nuguri, MD and CEO, of Hitachi Energy, India and South Asia, said that to attain the goals set by the Centre at the COP26, technologies and the pace of development should speed up.