India Decarbonising Its Economy, Focusing on Renewable Energy: Dharmendra Pradhan
Union Petroleum and Natural Gas Minister Dharmendra Pradhan reiterated India’s commitment to decarbonising its economy. The nation will continue to focus on renewable energy as a responsible global citizen, he said in his address to the Center for Strategic and International Studies (CSIS) think-tank.
Pradhan firmly believes that the future growth of energy demand will come from India. He also echoed the words of Prime Minister Narendra Modi stating by 2030, around 40% of India’s energy demand would be generated through renewable sources.
“We are an emerging economy. Our priority, our strategy is different from the other part of the global developed economic group,” said Pradhan.
The minister went on to say that India has identified hydrogen as a priority citing the nation’s Hydrogen Mission. He also highlighted India’s efforts at CNG (compressed natural gas) blending with Hydrogen in Delhi in the transportation sector.
Pradhan also touched upon India’s market-driven reforms in energy pricing and distribution.
“We will embrace new energy technology. Gradually we will phase out our existing energy consumption pattern. We will transit towards a greener and cleaner path. But looking into our affordability challenges, looking into more price sensitivity in our domestic economy, we are using gas as a bridge fuel,” he said.
“Oil and coal will continue to be in India’s energy basket for a period. But gradually we are making them cleaner and we will go up to hydrogen energy. This is our roadmap,” he added.
The minister talked up India as a booming market for energy. “Western world has lots of technology, lots of resources, and we have a market. If we can synergise in R&D and the new technology in digitalisation, you will get a market for your technology and financial investment would be safer in a policy-driven market in India,” he said.