Lockdown constraints amid second wave of Covid-19 a downside risk for electricity demand: ICRA
Lockdown constraints amid second wave of Covid-19 a downside risk for electricity demand: ICRA
09 Oct 2024
India has seen an 86% rise in power generation through renewable sources, reaching 360 billion units over the past decade, according to Union Minister Pralhad Joshi, highlighting that India is the only G20 nation to have achieved its climate targets ahead of time. The minister made these comments during the 'Hamburg Sustainability Conference' in Germany, as noted in an official statement.
Since 2014, India has experienced transformational growth in its renewable energy capacity, increasing by 175% from 75 GW to over 208 GW. During this time, total renewable energy generation rose from 193.5 billion units to 360 billion units, representing an 86% increase, Joshi stated.
"India stands out as the only G-20 nation to have achieved its climate targets ahead of time, all while maintaining the lowest per capita emissions among its peers," the minister noted. He further underlined that India is enhancing its port infrastructure to accommodate vessels powered by green shipping fuels and hybrid technologies, aiming to become one of the top five shipbuilding nations by 2047.
"As we move closer to reaching net zero emissions, the importance of sustainable maritime transport has grown significantly. India is making notable progress in the green shipping industry, driven by government initiatives, technological innovations, and international partnerships," he remarked. He also encouraged global stakeholders to investigate opportunities within India's ambitious green hydrogen and renewable energy industry.
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