Oil & Gas 360 Publishers Note: We have applauded Prime Minister Narendra Modi many times on our daily show for his commitment to use a “Balanced Power Approach” to getting the lowest kWh to his citizens. Great job, and other leaders should note the success of using all types of energy. Our Oil & Gas 360 Team calls the “Balanced Power Approach” using renewable, nuclear, or fossil to produce the lowest kWh while taking the best care of the environment possible.
He also mentioned that India has saved around Rs 24,000 crore annually through the installation of 11 million smart LED street lights which have reduced the greenhouse gas emissions by an estimated 4.5 crore or 45 MT of CO2 annually
“India’s energy plan will have 7 key drivers including accelerating efforts to move towards a gas-based economy, cleaner use of fossil fuels, greater reliance on domestic fuels to drive biofuels, achieving the renewable energy target of 450 gigawatts (GW) by 230, increasing the contribution of electricity to decarbonise mobility, moving into emerging fuels like Hydrogen and digital innovation across all energy systems,” Modi said in his address at the fourth annual Indian Energy Forum.
He also mentioned that India has saved around Rs 24,000 crore annually through the installation of 11 million smart LED street lights which have reduced the greenhouse gas emissions by an estimated 4.5 crore or 45 MT of CO2 annually.
“Due to such interventions, reports have said that India is the most attractive emerging market for clean energy investment,” PM Modi said.
He said that India is well on track to meet the commitments made to the global community on climate and that the nation has the lowest carbon emissions than the rest of the industrialised world but will continue to make efforts to fight climate change.
The PM also said the current year has been challenging for the energy sector as demand fell by one-third, price instability and investment decisions impacted. he said while global agencies project that there will be a contraction in global energy demand over the next few years, they project India as a leading energy consumer.
Read More: PM Modi underscores 7 key pillars of India’s energy strategy – power to the people