On Wednesday (23rd Feb 2022), Reliance Industries Ltd (RIL) chairman, Mr. Mukesh Ambani said, “Technological advancements will make India a global new energy leader, exporting half a trillion dollars worth of clean energy in two decades.”
Mr. Mukesh Ambani, who is also leading a move to green hydrogen production at his oil-dominant conglomerate, further added in his statement that India is now one of the most appealing places in the world for renewable energy investment.
The shift to clean, emission-free energy will take time, and India’s dependence on coal and imported oil will continue for the next 2 to 3 decades
“However, in the next 2-3 decades, we must have a plan to eliminate it,” he stated. “As a result, low-carbon and zero-carbon development methods will be required in the near and medium future.”
According to him, this new technology will help to bring the cost of new and clean energy down. Along with it, the climate catastrophe, which is an existential crisis, will determine the energy transition in the 21st century’s geopolitical transformation.
When wood was replaced by coal, Europe surpassed India and China to become the global leader. Similarly, the United States and West Asia surpassed others when oil became more widely available.
“It will help India emerge as a global force when India becomes not just self-sufficient in green and clean energy, but also a significant exporter,” he said further.
This transformation will result in both green jobs and significant foreign exchange savings.
As a country that relies on coal and oil for more than 85% of its energy, India has focused on generating the majority of its electricity from renewable sources such as solar and wind, and replacing polluting fuel with carbon-free hydrogen.
It has announced a new policy to split water using renewable electricity to produce hydrogen, which can be utilized as a fuel in a variety of businesses, including refineries and steel factories, as well as in automobiles.
While India has emerged as an IT superpower in the last two decades, the next 20 years will see it emerge as a superpower in energy and life sciences, according to Mukesh Ambani, the chairman and managing director of Reliance Industries Ltd.
“I have absolutely no doubt that India can, and India will emerge as a global New Energy leader,” he remarked.
India is one of the first countries in the world to announce hydrogen-powered vehicles.
“We have put our goal of exporting Green Energy out of India on the table,” he added, adding that India will not only be self-sufficient in energy but will also be able to export green energy.
This will be supported by aggressive and forward-thinking legislative support and action on the part of both the federal and state governments, as well as guaranteed funding choices for young entrepreneurs.
“I believe there will be at least 20-30 new Indian energy and technology businesses that will develop to be as big as Reliance, if not more, in the next 10-20 years,” he said.
It took Reliance 15 years to reach $1 billion in revenue, 30 years to reach $10 billion in revenue, 35 years to reach $100 billion in revenue, and 38 years to reach $200 billion in revenue.
“India’s technology and digital exports have increased from less than $10 billion 20 years ago to $150 billion now. I anticipate they will be worth more than half a trillion dollars by 2030. Similarly, India’s clean and green energy exports over the next 20 years have the potential to generate half a trillion dollars in revenue “he stated
According to Mukesh Ambani, technical advancements will make energy more affordable based on commercial feasibility. Furthermore, the government is dedicated to supporting new energy through clear and consumer-friendly laws.
In 2021, India achieved its aim of 40% renewable energy generation, which had been set for 2030. India wants to reach a renewable energy capacity of 500 gigawatts.
Green hydrogen can be brought down to a dollar per kilo, according to Mukesh Ambani, while transportation and dispersal expenses can be kept to less than a dollar per kg.
“India’s rapid development is unstoppable. We will grow to a five-trillion-dollar economy and then to a ten-trillion-dollar economy. We can only debate whether it will happen in 2025 or 2027, or 2030 or 2032 “he stated.
The country consumes one-third of the world’s energy per capita, while a typical Indian’s annual carbon emissions are around one-fifth of a Chinese or one-eighth of an American.
“India’s per capita income is currently around $2,000, compared to $38,000 in Europe. I believe that if we continue on our current path, we will be able to attain $10,000 per capita in the next 15-20 years “he stated, “Our energy demand will rise as a result of this.”
At the same time, because of technological advancements and the abundance of renewable resources, incremental energy will be met at affordable rates.
“As a result, I believe India will be among the fastest-growing large economies, with our energy needs doubling in the next few decades,” he said.
By 2030-32, India would have surpassed the European Union as the world’s third-largest economy.
Ambani stated that India’s energy output must be increased for the country to achieve double-digit GDP growth. And it has to be done on a technologically affordable basis.
In addition, the percentage of green and clean energy in this increased output must increase.
Click Here for more updates ornatesolar.com
Resource: Business Standard
Leave A Comment