What will India's energy future look like?

According to Jennifer Granholm, US Secretary of Energy, “In so many ways, the world’s energy future will depend on India’s energy future.” In line with this, the country is adopting ambitious goals for deploying solutions such as clean hydrogen, energy storage, carbon capture and sustainable aviation fuels.

How is India advancing Advanced Energy Solutions?

As the world watches, India is progressing advanced energy solutions rapidly. India is setting ambitious targets for deploying advanced energy solutions such as clean hydrogen, energy storage and carbon capture. By 2030, it plans to invest over $35 billion annually in these areas.

Which CPSUs are the major energy sector financiers in India?

Three CPSUs that are the major energy sector financiers in India—Power Finance Corporation Ltd., REC Ltd, and IREDA—provided INR 2 lakh crore (USD 24.9 billion) to energy in FY 2023. Based on our estimates, for the first time, annual disbursements for clean energy were marginally higher than disbursements to fossil fuels.

Will India double its non-fossil fuel power generation capacity by 2030?

It is part of a group of companies led by Adani Green Energy that are pursuing India ’s target to more than double its non-fossil fuel power generation capacity to 500GW by 2030 as the coal power-dependent country attempts to meet growing energy demand.

What is the demand for electricity in India?

The demand for electricity in the country has increased rapidly and was expected to grow further in the years to come. A major portion of the electricity generation came from thermal energy. The private sector had a strong grip on the energy sector, amounting to an installed energy capacity of around 217 thousand megawatts.

How will fossil fuels affect India's energy system?

This could put strains on its energy system, which for the moment relies heavily on imported fossil fuels, especially crude oil and natural gas. In tandem with this sharp rise in energy demand, carbon emissions in India could increase significantly over this period due to a growth in fossil fuel use for transport, power generation and industry.