Budget Boost for Solar, EVs, and Nuclear SMRs to Enhance Energy Security

11 Jul 2024 CW Team

According to Dwivedi, it is expected that the budget will strengthen the government's commitment to these sectors by further supporting local manufacturing capabilities aligned with global energy transition trends.

The government's upcoming fiscal policies are anticipated to emphasize the resilience of electricity infrastructure, aiming to mitigate the impacts of increasingly severe weather events linked to climate change. This includes significant allocations towards digitizing electrical grids to facilitate the integration of Distributed Energy Resources (DERs) and enhance capacity to manage peak demands.

India, having achieved a milestone of adding 18 GW of solar capacity in FY24, faces the challenge of scaling up annual renewable energy capacity to approximately 50 GW to achieve a 2030 target of 500 GW of non-fossil fuel generation. Dwivedi noted that expanding renewable capacity on this scale requires not only continuing existing initiatives but also a focused effort, particularly towards corporate contributions to renewable energy and offshore wind projects.

The budget is also expected to highlight emerging energy technologies such as electric vehicles (EVs), green hydrogen, and Nuclear Small Modular Reactors (SMRs), deemed crucial for enhancing India's energy security and reducing dependency on fossil fuels.

Dwivedi indicated that investments in the upcoming budget are likely to include substantial support for improving transmission and distribution infrastructure. This will be accompanied by strategic measures to digitize the grid, enhancing its capability to manage the requirements of a modern, decentralized energy system.

Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for FY25 on July 23, following a Budget session starting on July 22 and concluding on August 12.

In a significant move towards modernizing energy infrastructure, the central government is gearing up to prioritise advancements in the electricity sector in the upcoming 2024-25 budget, with a strong focus on renewable energy sources. Anujesh Dwivedi, partner at Deloitte India, mentioned that the government aims to localise the manufacturing base for solar, hydrogen, and batteries, influenced by global geopolitical shifts post-COVID19. According to Dwivedi, it is expected that the budget will strengthen the government's commitment to these sectors by further supporting local manufacturing capabilities aligned with global energy transition trends. The government's upcoming fiscal policies are anticipated to emphasize the resilience of electricity infrastructure, aiming to mitigate the impacts of increasingly severe weather events linked to climate change. This includes significant allocations towards digitizing electrical grids to facilitate the integration of Distributed Energy Resources (DERs) and enhance capacity to manage peak demands. India, having achieved a milestone of adding 18 GW of solar capacity in FY24, faces the challenge of scaling up annual renewable energy capacity to approximately 50 GW to achieve a 2030 target of 500 GW of non-fossil fuel generation. Dwivedi noted that expanding renewable capacity on this scale requires not only continuing existing initiatives but also a focused effort, particularly towards corporate contributions to renewable energy and offshore wind projects. The budget is also expected to highlight emerging energy technologies such as electric vehicles (EVs), green hydrogen, and Nuclear Small Modular Reactors (SMRs), deemed crucial for enhancing India's energy security and reducing dependency on fossil fuels. Dwivedi indicated that investments in the upcoming budget are likely to include substantial support for improving transmission and distribution infrastructure. This will be accompanied by strategic measures to digitize the grid, enhancing its capability to manage the requirements of a modern, decentralized energy system. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for FY25 on July 23, following a Budget session starting on July 22 and concluding on August 12.

Real Estate

05 Nov 2025

83% of Indian Employees Welcome Office Return: JLL Report

India is leading the global Return-to-Office (RTO) movement, with 82 per cent of employees currently under office-based work mandates and 83 per cent expressing positive sentiment toward the shift, according to JLL’s Workplace Preference Barometer 2025. This enthusiasm positions India well above the Asia-Pacific average of 64 per cent, underscoring the country’s progress in creating people-centric, flexible, and productive workplaces.The technology, BFSI, and education sectors are at the forefront of this RTO trend, with Indian corporates excelling in designing work environments that balan..

Real Estate

05 Nov 2025

ServeU, PureBlue Water Partner to Boost Sustainable Water Management in UAE

ServeU, a subsidiary of Union Properties and a leading facilities management provider in the UAE, has signed a strategic partnership with PureBlue Water, an innovator in sustainable water and wastewater technologies. The collaboration aims to promote efficient water use, cost reduction, and circular water management across the UAE’s residential, commercial, industrial, and leisure sectors.This partnership integrates ServeU’s regional expertise with PureBlue Water’s advanced distributed treatment systems, offering a sustainable alternative to traditional centralized sewer networks. These ..

Infrastructure Urban

05 Nov 2025

Eurobond Expands Global Footprint with Launch of Eurobond Europe

Euro Panel Products, the parent company of Eurobond, has announced its official entry into the European market with the launch of Eurobond Europe, which will serve as the brand’s exclusive distributor across the region.Established in 2002, Eurobond is among India’s leading manufacturers of Aluminium Composite Panels (ACP) and façade solutions. With a state-of-the-art facility in Gujarat and exports to over 20 countries, the company continues to set benchmarks in quality, design, and innovation. Its expansion into Europe marks a strategic step in strengthening its global presence.Divyam Sh..