London/New Delhi, June 27 (IANS). Sagar Adani, Executive Director, Adani Green Energy Limited (AGEL) stressed the need to rapidly increase electrification to strengthen energy security and drive economic growth. He said that renewable energy coupled with energy storage will be the key to providing reliable, affordable and 24/7 clean electricity in the future.
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, Sagar Adani said energy security, affordability and sustainability are among the world’s biggest challenges today.
Sagar Adani said, “Electrification is emerging as the most effective way to address these three challenges. For countries that want strong economic growth and energy self-reliance, rapid electrification is no longer an option but a necessity.”
He said that the real potential of renewable energy is revealed when it is combined with energy storage technologies like Battery Energy Storage System (BESS) and Pumped Storage Project (PSP).
Sagar Adani said, “These technologies make clean energy reliable, affordable and available round the clock. Adani Green is taking this vision forward and working towards achieving 50 GW of renewable energy capacity by the year 2030. The world’s largest renewable energy plant is being developed in Khavra, Gujarat, where clean energy is being combined with large-scale energy storage.”
Policy makers, investors, industry representatives and climate experts participated in this dialogue program. Everyone discussed the policies, investments and infrastructure needed to accelerate the clean energy transition.
Held during London Climate Action Week, one of the world’s largest independent climate events, the event underlined the importance of international cooperation in tackling climate change, promoting new policies and mobilizing investment for the energy transition.
Lord Adair Turner, Co-Chair of the Energy Transitions Commission, said that if the world is to achieve a zero-emissions economy and keep global warming under control, the most important step is clean electrification. He said that the economy should be made electricity-based as much as possible and power generation should be made carbon free to the maximum level.
He said, “The good thing is that electrification is already proving to be economically beneficial in many sectors like road transport, heating of buildings and low-temperature industrial processes. And thanks to new technologies, electrification of high-temperature processes is now becoming possible in heavy industries as well.”
Nigel Topping, co-founder of Ambition Loop and chair of the UK Climate Change Committee, said investment in decarbonizing electricity generation is increasing, but the real economic and environmental benefits will come only when electrifying sectors of the economy that are still dependent on fossil fuels are increasing.
“The ever-decreasing cost of technology and a clear understanding of how flexibility works in modern electricity grids is critical to attracting large-scale investment,” he said.
Adani Group has committed to invest more than $100 billion in the energy transition and development of related infrastructure, one of the world’s largest private investments in the sector.
The Group is also continuously investing in power transmission, energy storage, green hydrogen, digital infrastructure and new industrial technologies to accelerate the transition towards a low-carbon economy.
At Adani Group’s Annual General Meeting (AGM) held earlier this week, Chairman Gautam Adani had also reiterated his commitment to develop a diversified energy portfolio based on renewable energy, green hydrogen, energy storage, transmission, digital infrastructure and nuclear energy to meet India’s growing energy needs.
Gautam Adani also announced that the group plans to develop up to 10 GW of nuclear power capacity under its diversified energy portfolio. He said nuclear energy, combined with renewable energy and energy storage, will play an important role in providing reliable, affordable and low-carbon electricity on a large scale.
–IANS
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