Perspective: India’s Green Energy Transition | 31 January, 2024

Summary

The special presentation on Sunset TV discusses India's upcoming interim budget and its potential to accelerate the country's transition to a low carbon economy. The conversation, led by host Kti Mishra, includes insights from Mr. Suban Pipa, CEO of the National Solar Energy Federation of India, and Mr. Manmohan Aasi, group president of SSEL. They delve into India's ambitious renewable energy targets, the push for green mobility, and the significance of green bonds in funding the energy transition. The panelists also highlight the importance of smart grids, biofuels, and the National Green Hydrogen Mission. The discussion underscores India's commitment to achieving its Paris Agreement goals and the economic opportunities presented by the shift to clean energy.

Takeaways

• 📈 **India's Renewable Energy Target**: India has set a target of achieving 500 GW of renewable energy capacity by 2030 as part of its commitment under the Paris Agreement.
• 🏠 **Solar Energy for Households**: Prime Minister Narendra Modi announced plans to install solar panels on 10 million houses, which could significantly boost India's rooftop solar sector.
• 💡 **Distributed Solar Proliferation**: There is a focus on not just the growth but also the spread of solar energy across the country, emphasizing distributed solar proliferation.
• 🔌 **Electrical Grid Infrastructure**: The government is creating a dedicated evacuation infrastructure for green energy and is pushing for a smart grid to integrate renewable energy seamlessly.
• 🚗 **Green Mobility**: There is a significant growth in the electric vehicle market, indicating a commitment towards green mobility from both the government and private sector.
• ⚖️ **Challenges in Manufacturing**: Indian manufacturers face challenges in obtaining competitive technology due to China's embargo on supplying equipment and technology to other countries.
• 💰 **Funding and Financial Support**: The discussion highlighted the need for accessible funding methods, such as promoting green bonds, to support the energy transition.
• 🌱 **Biofuels and Co-generation**: There is potential to double the current biomass and co-generation capacity with the right incentives and focus on technology advancements.
• 💡 **National Green Hydrogen Mission**: The mission aims to produce 5 million metric tons per annum of green hydrogen, with significant investment and job creation potential.
• 🔋 **Energy Storage and Smart Grids**: The importance of energy storage capacity and the development of smart grids for the integration of renewable energy into the grid was emphasized.
• 🌐 **Global Biofuel Alliance**: India, as a G20 chair, is leading an initiative to expedite the global uptake of biofuels, which is expected to influence India's energy mix.

Q & A

What is the significance of the 22nd of January 2024 in India's renewable energy sector?

The 22nd of January 2024 is significant because it marks the announcement by Prime Minister Narendra Modi of a plan to install solar panels on 10 million houses, emphasizing India's commitment to solar energy proliferation and growth.

What is India's target for renewable energy capacity by 2030?

India has set a target of achieving 500 gigawatts (GW) of renewable energy capacity by 2030 as part of its commitment under the Paris Agreement.

What is the current solar energy capacity of India?

As of the time of the discussion, India's solar energy capacity has grown to 73 gigawatts (GW), with expectations to cross 100 GW in the next 12 to 13 months.

What are the expectations from the interim budget in terms of incentives for solar energy?

The industry is expecting provisions in the interim budget that could include subsidies or special incentives for consumers at lower consumption levels, as well as additional subsidies to make solar energy more attractive for citizens to adopt.

How does the panelist, Mr. Pulipaka, envision the impact of achieving the target of 10 million households with rooftop solar?

Achieving the target of 10 million households with rooftop solar would be equivalent to the combined total installed rooftop solar of the top four countries, which would significantly boost India's rooftop solar sector and lead to an estimated 30,000 megawatts of solar energy.

What is the current status of high-efficiency solar PV modules in India?

High-efficiency solar PV modules have been supported by the Production Linked (PL) scheme in India, which has been successful. By the end of the year, it is expected that the PL tranche one and two modules will be available, contributing to India's establishment as a global superpower in solar manufacturing.

What are the challenges faced by the solar panel manufacturing sector in India?

The challenges include difficulty in obtaining competitive and efficient technology due to China's embargo on supplying equipment and technology to other countries, especially India. Additionally, there is a need for macro-level support from the government, such as plug-and-play infrastructure and accessible funding methods like green bonds.

How does Mr. Rasti perceive the role of green bonds in achieving India's renewable energy targets?

Mr. Rasti believes that green bonds can play a significant role in funding renewable energy projects. He suggests that India should capitalize on green bonds, redefine the green taxonomy, and promote accessible funding methods to accelerate the energy transition.

What is the National Green Hydrogen Mission's objective?

The National Green Hydrogen Mission aims to achieve a production capacity of 5 million metric tons per annum of green hydrogen, with an investment of over 8 lakh crore rupees and the potential to create 600,000 jobs.

What are the expectations from the interim budget regarding biofuels?

The panelists expect a major announcement for promoting biofuels in India's energy mix, possibly including incentives to increase ethanol blending in petrol and support for biomass and co-generation technologies.

How does the development of smart grids and energy storage capacity contribute to the integration of renewable energy into the grid?

Smart grids and energy storage capacity are essential for the seamless integration of renewable energy into the grid. They allow for better grid management, efficient energy distribution, and the ability to store excess energy for later use, which is crucial for maintaining grid stability and reliability.

Outlines

00:00

📈 India's Solar Energy Growth and Interim Budget Expectations

The first paragraph introduces the special presentation by Sunset TV, focusing on the interim budget's potential to accelerate India's transition to a low-carbon economy. The discussion highlights India's ambitious renewable energy targets, specifically the aim to achieve 500 GW of renewable energy capacity by 2030. The experts, Mr. Suban Pipa and Mr. Manmohan Aasi, discuss the significance of the announcement made by Prime Minister Narendra Modi to install solar panels on 10 million houses, emphasizing the potential boost to the rooftop solar sector and the need for subsidies and incentives to make solar energy more attractive for consumers.

05:01

🚀 High-Efficiency Solar Modules and Green Mobility in India

The second paragraph delves into the success of the Production-Linked Incentive (PLI) scheme for high-efficiency solar PV modules and the prospects for similar incentives in other sectors, such as e-mobility. The speakers express optimism about India's growing e-vehicle market and the potential for a major push towards green mobility. They also discuss the challenges faced by manufacturers in obtaining competitive technology and the need for government support through infrastructure and funding to compete with China's manufacturing capabilities.

10:04

🌱 National Green Hydrogen Mission and Biofuels in India's Energy Mix

The third paragraph discusses the financial aspects of achieving India's renewable energy targets by 2030, emphasizing the need for accessible funding methods, such as green bonds. The panelists suggest that defining a clear taxonomy for green bonds and promoting them within India could help accelerate the energy transition. They also touch upon the National Green Hydrogen Mission, which aims to produce 5 million metric tons of green hydrogen annually, and the potential for job creation and sector growth.

15:05

🌿 Biofuels and the Global Biofuel Alliance Initiative

The fourth paragraph focuses on the role of biofuels in India's energy mix and the Global Biofuel Alliance initiative led by India as part of its G20 chairmanship. The speakers anticipate a major announcement to promote biofuels and discuss the potential for biomass and co-generation to double in the next few years. They emphasize the need for technology advancements, government support, and the development of a dedicated infrastructure for biofuel production.

20:05

🌟 Smart Grids and Energy Storage for Renewable Integration

The fifth paragraph discusses the importance of smart grids and energy storage for the seamless integration of renewable energy into the grid. The panelists highlight the progress made in mandating smart meters and the government's efforts to create a dedicated evacuation infrastructure for green energy. They also mention the need for cybersecurity measures to protect power systems and the potential for a resilient and decentralized grid that can accommodate renewable energy.

25:08

🌱 Green Hydrogen, Biofuels, and the Upcoming Interim Budget

The sixth and final paragraph wraps up the discussion with closing thoughts from the panelists on the interim budget 2024 and India's green energy transition. They emphasize the need to focus on the green hydrogen mission, expand renewable energy capacity, increase ethanol blending, and integrate environmental sustainability into decision-making processes. The panelists also discuss the importance of funding support, insurance, and the development of the bond market to achieve India's net-zero emission targets by 2030.

Keywords

💡Interim Budget

The Interim Budget refers to a temporary or provisional budget presented by the Union Finance Minister of India before the general elections. It is a critical financial plan that sets the economic direction for the country in the short term. In the video, expectations are high that this budget will accelerate India's transition to a low carbon, climate-resilient economy.

💡Renewable Energy Targets

Renewable Energy Targets are goals set by a country to generate a specific amount of energy from renewable sources like solar, wind, and hydro power. India has set a target of achieving 500 GW of renewable energy capacity by 2030, which is a commitment under the Paris Agreement. This goal is central to the video's discussion on how the budget can act as a catalyst for India's green energy course.

💡Nationally Determined Contributions (NDCs)

Nationally Determined Contributions are emissions reduction targets that each country sets for itself under the Paris Agreement to combat climate change. India's NDCs include its renewable energy targets, which are part of the broader strategy to reduce carbon emissions. The video discusses how the upcoming budget may help India meet these NDCs.

💡Solar Energy

Solar Energy is the energy harnessed from the sun's rays and converted into electricity, typically through solar panels. The video emphasizes India's rapid growth in solar capacity, with a mention of the goal to install solar panels on 10 million houses, which would significantly boost the adoption of solar energy across the country.

💡Green Hydrogen

Green Hydrogen is hydrogen produced using renewable energy sources, specifically through the process of electrolysis where water is split into hydrogen and oxygen using electricity from renewables. The video discusses the National Green Hydrogen Mission, which aims to produce 5 million metric tons of green hydrogen per annum, representing a significant step towards clean energy.

💡Biofuels

Biofuels are fuels derived from biomass, which is recently living organisms or their metabolic byproducts. The video mentions the Global Biofuel Alliance, an initiative by India as a G20 chair, aimed at accelerating the global uptake of biofuels. The promotion of biofuels in India's energy mix is expected to be a major announcement in the budget.

💡Smart Grids

Smart Grids are electrical grids that use information technology to enhance reliability, efficiency, and sustainability. They allow for the seamless integration of renewable energy sources into the grid. The video talks about the importance of smart grids for the energy transition, with mentions of smart meters and the need for energy storage capacity.

💡E-Mobility

E-Mobility refers to the use of electric-powered modes of transport, such as electric vehicles (EVs). The video discusses the growth of the e-vehicle market in India and the potential for policy incentives to promote the adoption of e-mobility as part of the clean energy transition.

💡Energy Storage

Energy Storage involves the capture of energy produced at one time for use at a later time. It is a crucial aspect of renewable energy systems, as it addresses the intermittency of sources like solar and wind. The video highlights the importance of energy storage systems, particularly in the context of e-mobility and grid stability.

💡Green Bonds

Green Bonds are fixed-income instruments specifically earmarked to raise funds for climate and environmental projects. The video discusses the potential for India to capitalize on green bonds to finance its renewable energy projects and achieve its energy transition goals.

💡Paris Agreement

The Paris Agreement is a global accord aimed at combating climate change by limiting global warming and encouraging a low-carbon economy. India's renewable energy targets and efforts to reduce carbon emissions are in line with its commitments under this agreement, which is a recurring theme in the video.

Highlights

Expectations are high for the interim budget to accelerate India's transition to a low carbon economy.

India aims to achieve 500 GW of renewable energy capacity by 2030, in line with the Paris Agreement.

The interim budget may include provisions for subsidies and incentives to promote solar energy adoption.

Prime Minister Narendra Modi announced plans to install solar panels on 10 million houses, a significant step towards solar energy proliferation.

India's solar capacity has grown rapidly, reaching 73 GW with the potential to exceed 100 GW in the next 12-13 months.

The government's focus is on both the growth and spread of solar energy across the country.

There is a hope for special incentives in the budget for consumers at lower consumption levels to make solar more lucrative.

The budget may provide a significant boost to India's rooftop solar sector, potentially leading to 30 GW of new capacity.

Discussion on the potential for a production-linked incentive (PLI) scheme for high-efficiency solar PV modules.

India is expected to become the second-largest hub of solar manufacturing by 2026-2027, with over 100 GW of manufacturing capacity.

The government aims to achieve 50% renewable energy in the energy mix by 2030, which will require significant green mobility initiatives.

Challenges in achieving renewable energy targets include securing the right technology and macro-level government support.

The need for accessible funding methods, such as promoting green bonds within India, to support large-scale renewable projects.

India's biofuel sector has potential for growth, with plans to double current capacity in the next few years.

The importance of integrating environmental sustainability into the core of decision-making processes, including green budgeting.

The development of smart grids and energy storage capacity for seamless integration of renewable energy into the grid.

The interim budget's potential impact on e-mobility, green hydrogen, and the overall transition to clean energy in India.

Emphasis on the economic opportunity that the transition to clean energy represents for India.

Transcripts

[Music]

[Music]

hello and welcome viewers you're

watching the special presentation of

sunset TV ahead of the interum budget

with your host kti Mishra as Union

Finance Minister prepares to present the

interim budget expectations are high

that it will accelerate India's

transition to a low carbon climate

resilient economy India aims to meet its

renewable energy targets and carbon

emissions reduction goals in line with

nationally determined contributions

under the Paris agreement India has set

itself a target of achieving 500 gwatt

of renewable energy capacity by 2030 as

part of its commitment under the Paris

Accord so how can the upcoming budget

act as a catalyst in charting India's

green energy course let's find out from

our experts joining us on the show Mr

suban pipa CEO National solar energy

Federation of India and joining us for

virtual platform Mr Manmohan aasi group

president

ssel welcome to sunet television both of

you and thank you so much for joining us

and Mr pulipaka let me begin the show

with you 22nd of January 2024 date

immortalized of course for two very big

reasons Ram Mand and after returning

from aoda prime minister Narendra Modi

announced the plan to install solar

panels on onec houses what will this

interim budget mean for sur yna in fact

uh you are aware and like you mentioned

India is the world leader today when it

comes to the rapid acceleration to

energy transition we have witnessed uh

our Solar capacity grew Leaps and Bounds

in the last 9 years today we are at 73

gwatt and if things go well we'll cross

100 gwatt in the next 12 13 months but

one thing uh that was always uh uh a

point of concern was our distributed

solar proliferation and with that

announcement on 22nd January prime

minister has made it very clear that

India's priority is not just growth of

solar but also spread of solar energy 10

million households

is an unprecedented Target for a country

of course for a country like India 10

million must be nothing but if you look

at rooftop 10 million is huge 10 million

households if we are able to achieve

that will be equal to the sum of the top

four countries uh when we sum up their

total installed roofs which have solar

today so I think there's definitely a

hope uh Al bit this being an interim

budget there's a hope that there will be

some Provisions in terms of subsidies or

in terms of special incentives uh for

consumers who are uh at a lower

consumption level uh while also uh

strengthening the program by introducing

some more subsidies uh for citizens to

make solar more lucrative for them to

switch uh and have it on their rooftop

that is one of the uh major uh uh wish

list or uh thing that the industry is

looking forward this is going to give a

huge boost to India's roof top sector in

a way that has never been thought before

10 million households on a conservative

uh uh estimate would lead to at least 30

gaw that is 30,000 megawatt Imagine

India whose current installed capacity

of 73 gaw only 11 gaw comes from

distributed and rooftop and in 2 years

we're going to add only 30 gwatt of

rooftop this is completely uh a very

Visionary and a very timely move uh I I

must commend uh honorable prime minister

and the ministry for coming out with

this scheme and her solar is the Moto

now which I think was well received by

the common citizens absolutely her solar

uh but another important development of

course that we saw was the pl scheme for

high efficiency solar PV modules do you

expect it for other verticals as well

well I think uh PL for modules is one of

the most successful plis uh if things go

well by the end of this year we'll see

the pl tranch one and trench two modules

coming out uh there is of course wish

list is always wish list we do have

hopes on seeing if we can expect a p uh

on storage Technologies U of course last

time viability Gap funding was announced

uh there was announcement of PL recently

on on uh grid scale storage that is one

aspect and uh slightly moving away from

generation I think there are also hopes

for PL on um e-mobility also uh that's

always uh uh uh on the top of the list

and I've Just Seen uh our uh e vehicle

uh Market has grown more than 35% that

is a very positive sign and uh that

shows the commitment uh both the

government and private sector have so

these both are uh uh couple of uh things

uh on the top of the priority uh but uh

I think uh

both plis P 1 and pl 2 of solar high

efficiency modules is something that has

helped India establish itself as a

global superpower in terms of

manufacturing and you'll not believe by

the end of next year we're going to

become the second largest Hub of solar

manufacturing and in 2026 2027 we will

have more than 100 gaw of manufacturing

end to end who would have thought uh

Indian manufacturing would be scaling

these Heights especially in technology

that is continuously evolving absolutely

we've leveraged our manufacturing

capability like never before but you

mentioned a very important word which is

IM buul let's take that to our panelist

Mr rasti welcome to Sunset television

there's overarching goal of the

government to achieve 50% renewable

energy in our Energy Mix by 2030 do you

anticipate a major green Mobility

push uh thank you for having me in this

uh panel uh yes uh the target is uh

humongous and uh I think we India as a

whole uh would be definitely achieving

it but there are few points which we

need to understand and keep in mind uh

so that we can achieve these targets uh

number one uh the most important is that

as uh already uh you know explained by

my panelist the technology is always

evolving the manufacturing of the solar

panel uh which uh is uh not a very uh

you know known technology out outside

China the last technology which was

updated outside China was around 15

years back and uh post that entire

European and US market also was

depending upon China and all the

developments in terms of R&D in terms of

efficiency was done in China so uh if as

a manufacturer of uh PL one uh winner

and uh we have been working on this for

last like couple of years and uh we have

found that uh to get the right

technology which is uh as competitive or

as efficient as the latest which China

is producing is becoming very difficult

because of various reasons and known

reasons that China is trying to put some

kind of embargo on supply of equipments

and and Technology to other countries

most specifically India so that's one of

the uh key bottlenecks but yes we we can

overcome that and we are working on that

so that so that is number one and number

two uh the most important thing is that

we also need to have uh uh you know uh a

macro level support from the government

PL scheme is definitely supporting but

the scheme money would come only after

you achieve cood and when you start

selling the product whereas if if you

have to compete with China in China they

uh the the kind of support the

government give is they give a plug and

play kind of infrastructure wherein they

have to just come and install them

equipments and other infrastructure in

place they have a subsidy uh in in power

they have subsidy in the uh rentals or

it's free of rent free of Interest they

have to just pay annual uh you know uh

outgo is there in terms of a fixed uh

outgo so their fixed cost is minimal and

hence their cost of production is quite

low so uh we would also request the

government of India to have some kind of

a infrastructure where a plug and play

kind of a environment is there wherein

all the infrastructure is provided and

the companies come and just start the

production third very important point is

the funding of these uh you know uh

projects the uh as you are aware this uh

the funds require is huge there is one

estimate that uh we will require at

least 10 uh trillions of uh Rupees to

have all these projects in place now if

you see uh in the international market

green bonds are very you know famous and

they have been UTI I to the extent that

almost every European country has given

a sovereign Bond they have raised green

bonds and that is being used as a

funding whereas in India we are largely

dependent on either financial

institution which are like domestic FIS

and Banks where the cost of interest is

high and they have their own limitation

in terms of tenor in terms of interest

rate in terms of collaterals what they

take so if we have to achieve this

target we have to provide some kind of a

uh accessible funding method by

promoting green bonds within India so

I'll stop there if there is an

additional question definitely I can uh

Take It Forward Absolutely I'll quickly

take your sense Mr pipa on green bonds I

think uh what Manan G mentioned uh it is

time for India to uh capitalize on green

bonds if you look at our Target of 2030

we require only for Generation meeting

the target we require 300

billion and uh we did of course uh

release a sovereign uh green Bond

framework in 2022 but one of the key

challenges in in that framework and

which is also potential which can be

addressed is that we need to redefine

the taxonomy we need to start adding

more clear specific definition points

into the green taxonomy that can help us

accelerate energy transition by the

means of getting AFF able capital for

example adding all agriculture

applications adding All Storage

applications not just battery storage

pump storage any other technology

alternate cell chemistry even adding

manufacturing renewable manufacturing

that will sort of accelerate the way uh

funds flow into the system U and uh we

have seen uh in the last year I was

observing the market India is less than

2% of the global uh green bonds Market

but we installed 20% of the global

capacity so we need to fill that Gap and

I have full confidence that if we are

able to tweak it and sort of come out

with a very holistic uh taxonomy and a

framework I think we will be uh an

example which the world will look at on

how we can leverage uh this light

tweaking in the green taxonomy and then

uh use this affordable Capital to propel

over own energy transition well

absolutely and from Green once let's

focus on national green hydrogen Mission

yes uh so the objective of course is to

achieve the production capacity of 5 mmt

per Anum of green hydrogen yes

investment of over 8 lakh CR rupees uh

there's potential of creating six lakh

jobs yes do you think or do you

anticipate any specific step in the

interim budget for realizing this goal

see uh I mean last two budgets have been

very hydrogen heavy and we are seeing

the results today like you mentioned we

had uh allocation to two plis uh both

were out uh the bids were announced the

winners were announced a couple of weeks

back yes uh so we have one p for

hydrogen green hydrogen generation and

one for electrolyzer manufacturing so we

will definitely see them up and running

in in the span of next two to three

years uh on the other hand I think uh

maybe it might be a visual thinking but

I think there might be if at all some

incentives for for uh demand oriented

Industries to mandate uh green hydrogen

consumption today the world is at a

global green hydrogen War that's true

the next kurra is happening on green

hydrogen so India has taken the lead and

we are by far much ahead of other

countries in terms of developing

domestic capabilities uh while we have

uh stable demand inside the country and

outside the country it would be

uh more prudent to look at promoting uh

our own Industries to consume our own

green hydrogen also but it'll be crucial

to see sir how hard to Abate sectors

actually go ahead well hard to Abate

sectors are also highly potential

sectors so we can look at it from that

side also that's right and uh today I

think one thing which is very clear when

we look at uh uh the entire energy

transition story in the country is we

are one maybe one of the few countries

or the only country where

we have accepted acknowledged and are in

are in full agreement that transition is

inevitable that's right and we have to

do everything and anything to get

towards it for example just in the span

of last 10 minutes we spoke of three

things and all three things ultimately

integrate and elute to our government

strategy we spoke about generation which

is electricity we spoke about mobility

and we are speaking now industry right

so to have a scheme which is

encompassing the entire overarching uh

spectrum of uh decarbonization is

something that not many countries have

all the stakeholders speak in unison AB

so I think uh this is uh very very

crucial uh most sectors are trying to uh

look into this particular thing also

absolutely and from Green hydrogen Let's

uh shift Focus to biofuels Mr ATI the

global biofuel Alliance is an initiative

by India as a G20 chair the alliance

intends to expedite the global upake of

biofuels through facilitating technology

advancements and intensifying

utilization of sustainable biofuels in

fact the E20 fuel currently sold that's

over um 1,00 pumps in the country the

plan is to make it available throughout

the country by next year do you expect a

major announcement for promoting biofuel

in India's Energy

Mix yeah yeah definitely uh actually

there has been a a great uh emphasis on

biomass and Co generation in fact uh the

uh India's policy on uh shift towards

ethanol blending in uh petrol that is

also a step towards that and uh if you

go by the figures biomass and Co

generation as on data uh is

approximately 10.2 gaw in the country

and there is huge scope and it can be

easily doubled in next I think to my

estimate in next two to three years uh

this can be doubled uh the only uh the

focus the way it has to be that there

has to be uh the uh uh emphasis on how

we bring in the uh the capacities what

we have uh in Pipeline and new

capacities by probably having some uh

kind of a PL scheme or some incentives

uh to U promote uh such production if

you go by uh the uh previous uh you know

focus on like the government has given

uh exemptions on the the custom duties

on the battery energy storage system and

uh other uh incentives which they're

giving if those incentives are also

given to such biomas uh production and

Co generations and then definitely there

is huge scope uh there is

also a a very uh urgent need of to

develop a a proper technology because

this uh sector has been evolving and I

have personally seen many biomass

generation program which has been

successful recently but uh if you go 5

years back there were uh issues and and

some a few projects had gone uh has not

been viable and have been not performing

as per the uh the efficiency levels and

uh production um uh requirement of the

uh uh the generation of the power but

now the there has been quite enough uh

technology and the R&D has to you know

keep on improving the technology and

there has to be a a fund or at least

from the government side there should be

a um uh initiative to have some kind of

a Ministry for this which will initiate

some kind of R&D which will help these

uh Farmers because these are mostly will

be uh these plants will be mostly in The

Villages or near the town where these

biofuels are available so kind of a

chopal or something has to be

established which will help them to have

a smaller plant which will be used in

their own Villages and uh it will be

more efficient in terms of utilization

and generation

also well absolutely and as you're

talking about technology Mr pipa I'm

reminded of or uh the need for smart

grids the energy storage capacity for

seamless integration of reable into the

grid how do we achieve that I think uh

the foundation for that is already late

you must be aware now smart meters are

uh being mandated and the progress is

very good uh and rooftop uh

installations in one way or the other

are a Next Step Closer to smart meter uh

smart grid uh imagine a situation where

we have a rooftop solar and then there's

a storage and then it's connected to the

grid and it's grid

interactive I mean that will be a

completely uh highly Advanced version of

uh of a mod than grid I think that is

one thing uh that the government is

already doing uh on the second uh side I

think uh uh India's grid today is the

world's largest grid all said and done

and uh one thing the government has done

right on point is to create a dedicated

evacuation infrastructure already 9,000

circuit square kilometers have already

been done another 10,000 are in

different stes of

implementation put together they will

host 50 60 ga L of green energy and uh

now the government is pushing uh

distributed renewable energy to a large

extent so I think we will be having one

of the most uh I don't know drisk

centrally decentralized grid uh where we

have all the risks addressed in terms of

uh uh grid Administration uh I'm also

aware that uh now lot of uh

sensitization has also uh been enforced

in the uh threats related to cyber

security in our Power Systems and very

happy to see that our grids are not just

uh uh strong and uh um able to

accommodate Renewables but they're also

resilient uh in Wake of any UNT incident

directed at aits so that is something

that's a very huge positive step uh for

us to transition to a completely smart

de well absolutely and of course all

eyes on the interm budget 2024 Union

Finance min Nan will present it and uh

before we wrap up the show time for

closing comments from our panelists Mr

aasi interim budget 2024 and India's

green energy transition your closing

thoughts uh uh as rightly mentioned by

our panel guest that there has to be

focus on green hydrogen Mission uh we

have to also expand our renewable energy

uh capacity whether it is uh

uh solar or wind or uh you

know this hydrogen uh then there has to

be definitely more shift towards the

ethanol blending which can be increased

up to say 20% that is where uh we will

be uh also reducing our Imports of uh U

traditional fuels then focus on of

course definitely we have to focus on

the battery energy u storage system

where uh uh the exemptions uh like

custom duties should be extended and

probably

increased uh smaller schemes like kusum

uh Gohan scheme then definitely now this

Sur scheme where rooftop has been are

being implemented uh these are very very

good schemes which will bring in lot of

uh Indians into this Ambit uh largely

the smaller uh farmers and all will be

part of this U uh effort to uh uh reach

toward our Net Zero emission Target um

also there is one uh need to integrating

the environmental sustainability into

the you know very core of the decision-

making process like if the green

budgeting each government Department if

they can have their budget wherein they

emphasize or uh lay out what steps they

have done to achieve uh this green

budgeting that would you know reduce the

burden of uh you know the uh one

Standalone budget which we have annual

in in into different departments and

they will also be able to focus

individually on all these U uh uh

schemes and uh there is uh on the uh

implementation side I feel uh uh as I

mentioned earlier uh funding is one of

the major um areas where government has

to provide some support uh because uh

today uh the cost of funding in India is

the highest if I have to compete with

China or any other European and US

country uh of course us we do have

advantage in terms of Labor and other

cost but in terms of Finance cost we are

the highest so there has to be some kind

of a support Insurance support or you

know scheme wherein uh the companies

which are setting up such uh plants uh

will get some kind of a good rating and

then they can go for a bond so we have

to develop the bond market uh incentives

should be given to financial

institutions Banks and other uh

investors to invest in such bonds uh so

that that they get some tax incentives

so overall the cost of funding would

come down um also in terms of data right

sir the DAT analysis and all uh what we

have we should have an uh you know a

cloud technology where Mis is

appropriately there and uh I would say

these things if we taken care then

definitely we will be achieving what we

we would like to achieve uh by 2030 well

absolutely sir Point well taken Mr pipa

I'll give you the last word on the show

I think uh uh not covering Mon's points

three things that uh are are key

interest points from our sector would be

that uh to see how the government looks

at the e-mobility and also storage

Allied to Mobility as well as uh storage

for energy generation

uh the second would be how green

hydrogen will uh find its place in the

budget in terms of incentives or in

terms of uh you know providing uh more

Sops for uh consum consuming green

hydrogen last but not the least of

course the hope is that it's alltime

high for Su yoga that's right and I

think and I hope after the budget uh

everyone will say solar is super solar

on that positive note thank you so much

for joining us Mr pipa and Mr aesti well

a transition to clean energy is also a

huge Economic Opportunity for India on

that note thank you so much for watching

Sunset television take care good

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