Report listrs 900+ projects across renewable energy services-technology supply chains
Interest is growing in the renewable energy and green hydrogen with an investment pipeline of US$250 billion, Power and New & Renewable Energy Minister R K Singh has said.
“This substantial investment is poised for further expansion in the future,” he said, announcing that India will soon launch a pilot project for producing 100 MW of round the clock (RTC) power using green hydrogen as storage.
He was speaking at the Fourth International Conference & Exhibition on Clean Energy, “Global Champions for Advancing Clean Energy: Innovation & Manufacturing”. It was organised by the Confederation of Indian Industry and the Ministry of New & Renewable Energy.
The minister also released a dashboard on “Energy Transition Investment Monitor: The Energy Transition Investment Monitor” which is a collaborative analytics platform that tracks over 900 projects in the pipeline across renewable energy services and technology supply chains.
“These investment opportunities have tremendous potential for economic development and contribute towards India’s long–term climate action goals and energy security objectives,” said the Minister.
The government could look at the PPP model in setting up desalination plants for using water for producing green hydrogen through electrolysis process, suggested Rajiv Memani, vice-president, CII and chair India Region and chairman Emerging Markets Committee, EY.
Sanjiv Puri, President Designate, CII, has called for a MSMEs role in the development of green energy supply chain.
“Collaboration with large anchor players within the supply chain is pivotal, aiming to empower MSMEs. Treating them akin to valued partners, like esteemed clients, is vital,” he said at the conference.
“For instance, when a major corporation invests in renewable energy sources, extending the same benefits to MSME partners enables a platform for enhancing their competitiveness while concurrently facilitating their transition towards a lower-carbon footprint”.
“MSMEs constitute a crucial economic component in our nation, serving as significant generators of employment. It is equally imperative to integrate MSMEs into the sustainability paradigm,” said Puri, who is Chairman & Managing Director, ITC Limited.
The minister also unveiled a CII-EY report on AatmaNirbhar Bharat in RE manufacturing. The report focuses on India’s energy transition which is gaining momentum with potential to emerge as a global champion for advancing renewable energy innovation and manufacturing.
Building local manufacturing capacities can help reduce dependence on imports and build supply chain resilience for India and the rest of the world, said the report.
The report puts forth the demand and supply chain dynamics of renewable energy technologies, government initiatives, and policy interventions for building further momentum, CII said in a release on 15 Sept 2023. Fiinews.com
