London/New Delhi, June 27 (IANS). Sagar Adani, Executive Director, Adani Green Energy Limited (AGEL) has said that Adani Group is building one of the largest renewable energy portfolios in the world. For this, the group has set a target of developing 50 gigawatt renewable energy capacity by 2030 and 10 gigawatt nuclear energy capacity by 2035.
Speaking at the first Adani Green Energy Dialogue, held in partnership with Adani Green Energy Limited (AGEL) and the Energy Transitions Commission (ETC) at the Science Museum in London during London Climate Action Week, he said: “We are investing in large-scale energy storage projects, including pumped hydro and utility-scale batteries. Also expanding the transmission network and developing green hydrogen ecosystem to efficiently distribute power across the country.
“We are doing all this at a scale and speed the world has rarely seen. Because small changes will no longer be enough,” he said.
Sagar Adani said that the events of the last three months have forced every country in the world to think.
He said that today both developed and developing countries are facing the challenge of keeping their economies safe from ever-increasing geopolitical crises. At the same time, crores of people in developing countries are joining the middle class and their energy demand for a better life is continuously increasing. In such a situation, providing cheap energy has become a basic necessity.
Sagar Adani said that the ever-increasing global tensions have now made the need for energy a fight for survival.
“Energy security, affordable access to energy and sustainable energy – these are the biggest challenges in the world today,” he said.
He said that the need for electrification in India is the greatest and it is also the most challenging.
He said that in the year 2024, India will consume about 10,000 terawatt-hours of energy from all sources including coal, oil, gas, nuclear energy and renewable energy.
Sagar Adani said that India’s challenge can be gauged from the fact that the country will have to add about 2,000 gigawatts of new power generation capacity in the next two decades.
He said that this capacity should be such that it is affordable, accessible to all and based on clean energy. This is the biggest opportunity and the biggest challenge before India.
He said that the way forward for India is completely clear. India will have to rapidly electrify every sector, so that its dependence on imported energy can be reduced. The country will have to create an energy system that is based on domestic resources.
He said that for this, practical thinking will have to be adopted and all available sources like renewable energy, hydropower, modern thermal energy and nuclear energy will have to be used.
“Achieving this target is not possible without strong and widely available baseload power,” Sagar Adani said.
He said that over the last decade, the leadership of the Government of India has done important work in reducing unnecessary regulations and red tape, strengthening public enterprises and encouraging private investment.
He further said that several big and small policy initiatives of the government have created an environment where industries can grow rapidly. Developing infrastructure, expanding renewable energy capacity, strengthening transmission networks and promoting long-term investments have been important steps in this direction.
Sagar Adani said, “Clarity and consistency in government policies have played an important role in making India’s energy system more robust and resilient.”
–IANS
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