Indian Initiatives Shaping Energy Transition

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Part of: GS Prelims and GS -III – Energy Sector

In news

Recently, the Minister of State for New & Renewable Energy launched ‘The India Story’ booklet.
It is a compilation of Indian initiatives that are shaping India’s energy transition.
It was launched at the event on Accelerating Citizen Centric Energy Transition.
The Minister also launched a website which will act as a repository of energy transition related knowledge resources from around the world.

Key Points of the booklet

In the last 6 years, India’s installed Renewable Energy (RE) capacity has increased by over two and a half times and stands at more than 141 Giga Watts (including large Hydro).
The installed solar energy capacity has increased by over 15 times, and stands at 41.09 GW.
During the last 7 years, over USD 70 billion investments has been made in RE in India.
- India allows 100% FDI through the automatic route in energy sector.
Renewable Energy Investment Promotion and Facilitation Board (REIPFB) Portal has also been developed to provide one-stop assistance and facilitation to the Industry and Investors for development of projects and bringing new investment to the Renewable Energy sector in India.
Several members from the Industry have voluntarily declared RE goals and committed to the Carbon Disclosure Project (CDP), Renewable 100% (RE100) and Science based targets (SBTs).
Rules are being framed for a ‘green tariff’ policy that will help electricity Distribution Companies (Discoms) supply electricity generated from clean energy projects at a cheaper rate as compared to power from conventional fuel sources.
The government is promoting Green Hydrogen with obligations for Fertilizers and Refining industries (Green Hydrogen Purchase obligations).

Recent initiatives in renewable energy sector

Viability Gap Funding options for Offshore Wind Energy
Green Term Ahead Market and Green Day Ahead Market.
Rules for facilitating RE through Open Access and RE procurement through exchanges will also be notified to promote non – conventional resources of energy.

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