Reacing 500GW clean energy goal easy for power ministry in Modi 3.0

12 Jun 2024 CW Team

Anujesh Dwivedi, Partner, Deloitte India, outlined several critical steps to achieve the 500 GW renewable energy capacity target. "Achieving the goal of 500 GW RE capacity by 2030 will necessitate additional measures beyond current interventions," Dwivedi noted. He emphasised the need for corporate RE procurement through green open access, support for RE manufacturing, and dedicated programs for new solar applications. The implementation of Distributed RE Obligation (DREO) and easier access to green finance were also highlighted as essential measures.

Dwivedi also stressed the importance of investments in power distribution networks to manage the rising frequency of extreme weather events and prevent downstream distribution network overloading. Grid automation will be crucial for effectively integrating large-scale distributed renewable energy and electric vehicles. Additionally, he mentioned plans to add 80,000 MW of new coal-based thermal power plants by 2031-32.

On the service front, Dwivedi suggested transforming the customer service orientation of State DISCOMs, proposing a model similar to Passport Seva Kendras to enhance customer interactions.

Akshay Hiranandani, CEO, Serentica Renewables, praised the previous term's efforts in advancing green energy initiatives and transmission development. "I extend my congratulations to the Ministry for their commendable efforts over the past five years," said Hiranandani. He anticipates continued policy support to ensure a comprehensive turnaround of discoms and extend the ISTS waiver to sustain renewable energy adoption.

A Power Ministry official commented on the strategic focus for the upcoming term, stating, "The next phase is about consolidating our gains in the renewable sector and ensuring our grid is robust enough to handle this transition. We are looking at enhancing our interconnectors with neighbouring nations and investing in energy storage solutions."

With a combination of new and on-going projects, including the integration of innovative technologies like Small Modular Nuclear Reactors (SMRs), the ministry aims to diversify India's energy mix and prepare for large-scale renewable energy integration. (Source: ET Energy)

As Prime Minister Narendra Modi begins his third term, the Power Ministry, led by Manohar Lal Khattar, faces significant challenges to meet India's ambitious energy goals by 2030. The primary focus will be on expanding renewable energy capacity and integrating advanced technologies to stabilise the grid. Anujesh Dwivedi, Partner, Deloitte India, outlined several critical steps to achieve the 500 GW renewable energy capacity target. Achieving the goal of 500 GW RE capacity by 2030 will necessitate additional measures beyond current interventions, Dwivedi noted. He emphasised the need for corporate RE procurement through green open access, support for RE manufacturing, and dedicated programs for new solar applications. The implementation of Distributed RE Obligation (DREO) and easier access to green finance were also highlighted as essential measures. Dwivedi also stressed the importance of investments in power distribution networks to manage the rising frequency of extreme weather events and prevent downstream distribution network overloading. Grid automation will be crucial for effectively integrating large-scale distributed renewable energy and electric vehicles. Additionally, he mentioned plans to add 80,000 MW of new coal-based thermal power plants by 2031-32. On the service front, Dwivedi suggested transforming the customer service orientation of State DISCOMs, proposing a model similar to Passport Seva Kendras to enhance customer interactions. Akshay Hiranandani, CEO, Serentica Renewables, praised the previous term's efforts in advancing green energy initiatives and transmission development. I extend my congratulations to the Ministry for their commendable efforts over the past five years, said Hiranandani. He anticipates continued policy support to ensure a comprehensive turnaround of discoms and extend the ISTS waiver to sustain renewable energy adoption. A Power Ministry official commented on the strategic focus for the upcoming term, stating, The next phase is about consolidating our gains in the renewable sector and ensuring our grid is robust enough to handle this transition. We are looking at enhancing our interconnectors with neighbouring nations and investing in energy storage solutions. With a combination of new and on-going projects, including the integration of innovative technologies like Small Modular Nuclear Reactors (SMRs), the ministry aims to diversify India's energy mix and prepare for large-scale renewable energy integration. (Source: ET Energy)

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