27 MAY ,Delhi: The Union Power and New & Renewable Energy Minister R. K. Singh held a meeting with Frans Timmermans, Executive Vice President, European Green Deal, European Union in New Delhi yesterday, May 26, 2023. The meeting was held to discuss cooperation under the EU – India Clean Energy and Climate Partnership. The discussion touched upon energy efficiency; renewable energy, including solar and offshore wind, green hydrogen; energy storage, diversification of global supply chain for energy sector, the International Solar Alliance, India’s presidency of the G20 and how India and EU can partner each other on the clean energy transition.“Looking for Partners who believe in going Green as fast as possible”The Power and New & Renewable Energy Minister informed the visiting EU delegation that as India is growing, the power demand is accelerating. While the established capacity in India is 416 GW, it is going to double by 2030. India is accordingly adding rapidly to its power generation capacity. onHHonTheThe Minister pointed out that despite India’s per capita and cumulative emissions being one of the lowest in the world, it has emerged as a leader in Energy Transition and Climate Action. “Need to Add Manufacturing Facilities for Energy Storage, to Bring Down Storage Cost”The Power and New & Renewable Energy Minister informed the European Union delegation of the various steps being taken by India to ramp up renewable energy capacity. He said that manufacturing capacity for the most advanced solar cells and panels is coming up; and by 2030, total manufacturing capacity of 80 GW will come up. This will meet India’s requirements and provide surplus for exports. This will address the supply chain issues of the world. The Minister stated that storage is needed in order to provide round-the-clock renewable energy and the transition to Net Zero. He informed that recognizing the need to add storage capacity, the government is coming up with bids for more storage. Government of India has already come up with a bid for Production Linked Incentive for energy storage; and it is planning to have one more bid. He sought the cooperation of the EU in encouraging other countries too to add manufacturing facilities for energy storage so that the price of storage comes down.
