Thank you very much Madam, Mr. Jaco Cilliers Country Director of UNDP, Ms. Ayumi Fujino, UNIDO representative and Regional Director, my very own colleagues Upender Tripathi Ji, Secretary Ministry of New & Renewable Energy and a person who has truly shown the world if I may venture to say so that India now will lead the worlds efforts towards clean energy rather than follow what’s happening in the world and has truly taken India to a new heights. My compliments to you Upender ji for your wonderful leadership and if I can borrow from the book that The Ramakrishna Mission from Chenai has just now presented me Vivekananda who was a born leader has written Arise, Awake and stop not till the goal is achieved, and I think truly Mr.Upender Tripathi embodies that sentiment and I compliment him for all his good works in this area.
My colleague Tarun Kapoor, I often call him an evangelist for Renewable Energy because the drive and the passion that I see in his work, the kind of commitment to make this whole program a grand success is truly unparalleled I am very much blessed that I have such wonderful colleagues working in the various areas under my charge and given the good support that we receive from International Multi-national agencies like UNDP and the UNIDO and with all the support and excellent work that all of you distinguish ladies and gentlemen award winners, other distinguish friends in attendance today.
The huge effort that this whole group of committed soldiers of the Solar Revolutions are doing leave me with no doubt that the ambitious target, the ambitious goal that all of us have collectively embarked upon, taken up will surely be a grand success. My compliments to each and every one of the award winners and I am sure winning these awards will not only encourage you to redouble your effort or rather the right thing is to make it atleast 8 times more than what you are doing that’s what Secretary just told me. That each award winner is going to do 8 times more work and get 8 new award winners next time for this program so you clearly don’t want me to come next time.
NEW DELHI: India is committed to cutting down carbon emission by 30-35 per cent and energy efficiency is vital to achieve the target, Power Minister Piyush Goyal said today.
“Distribution of 10 crore LED bulbs is not only our achievement, but of the consumers as well. India has a clear vision to reduce carbon emissions by 30-35 per cent and energy efficiency is pivotal to achieving this target.
Through the UJALA scheme, we have demonstrated our commitment to the country and the world. Taking this commitment forward, we would be procuring 20 crore bulbs this year, leading to more reduction in carbon emission,” the minister said in a statement.
The government has distributed over 10 crore LED bulbs across the country under the Unnat Jyoti by Affordable LEDs for All (UJALA) scheme, the statement issued by the power ministry said.
The scheme was launched by Prime Minister Narendra Modi in January 2015.
“More than 10 crore LED bulbs distributed! Reducing electricity bills & Reducing impact on environment #iLEDtheWay,” Goyal tweeted.
“10 cr LED bulbs are already saving Rs 5000 cr/ year. By 2019, Rs 40,000 cr of savings / year #TransformingIndia,” he further tweeted.
EW YORK: Eyeing an investment of $1 trillion in the energy sector, India will set up help desks across the country as well as in the US, the UK, Australia and Japan to handhold investors through laws and regulations.
Interacting with reporters here yesterday, Minister for Power, Coal and New and Renewable Energy PiyushGoyal, currently in the US, said investors have mainly expressed concerns on two issues — health of power distribution companies and different regulations and regimes in states.
“One very good suggestion… is we should have a help desk in Delhi or different parts of India which can help investors navigate different tax laws and regulatory mechanisms. As soon as I get back, I am looking at setting that up,” he said.
The Indian Renewable Energy Development Agency Ltd ( IREDA) is likely to be the nodal agency that would set up such help desks.
“I am also going to explore the possibility of having such a help desk which can give credible guidance and help people navigate in their investments in the US, Europe, Japan and Australia as well,” he said.
The department is already looking at standard Power Purchase Agreements across the country and has tied up with states to bring out a framework of agreement to help investors across the world.
While investors expressed concern on financial health of discoms is some states, they were at the same time “excited” about the potential of the UDAY scheme for turnaround of the power distribution companies.
According to Goyal, India offers the world a huge market opportunity with a demand growth of quadrupling energy consumption by 2030.
“I see in the next 5-6 years a $250 billion opportunity in the energy sector and by 2030, when we are planning to expand renewable energy also very significantly, I see a trillion dollar investment opportunity in India,” he said.
Goyal claimed that this kind of investment would be unparalleled and expressed confidence that savvy investors will see great hope and potential in the Indian power sector.
NEW YORK: India’s renewable energy programme is not dictated by any external pressure but comes as an article of faith, Power Minister PiyushGoyal said today.
Speaking at the Roundtable on International Solar Alliance -the Trillion Dollar Opportunity, the Minister said the solar alliance is an oppourtunity to serve humanity and those who still have no access to power.
“Our effort for cleaner environment and greener environment comes as an article of faith. It is not something we are doing out of international pressure. It is not something where India is looking at as burden on the people of India, on the economy of India.
“But we are looking at this as an oppourtunity to set right what went wrong in the past, to correct the imbalance in the atmostphere, the way development has taken place over several years,” he said.
He said India has launched this initiative as an obligation towards the larger humanity as an article of faith and called upon stakeholders beyond governments to make this initiative a success.
The ISA which comprises 121 countries that lie partially or fully between the Tropics of Cancer and Capricorn is intended to create a platform for larger collaboration for technology, research and development and capacity building.
“This is about improving the quality of life of large number of people who are still grappling with problems of energy and accessibility at affordable prices,” the Minister said at the roundtable organised by CII and Terrawatt Initiative under the aegis of International Solar Alliance.
India has set an ambitious target of developing 175 GW renewable power capacities by 2022, including 100 GW of solar and 60 GW wind power projects.
The Global Solar Council also committed to creating 25 million jobs in the solar space among the ISA countries. Similar commitments of dedicating a part of their funding portfolio to renewables was given by GIIC, a federation of pension funds.
Under the Indian and French leadership, the International Solar Alliance was launched in Paris.
Terrawatt Initiative said that based on the success of the Indian practice, the ISA aims at scaling up solar energy and at better aggregating and harmonizing the demand across solar rich countries building a common ‘buyers’ market’ for solar rich countries.
In support of ISA plans for generating local employment and spurring economic activities, the Global Solar Council (GSC) said it has set a target of creating 10 million solar jobs by 2030.
GSC represents more than 40 national and regional solar associations from both established and emerging markets, and 2,000 companies across the solar chain.
Union Minister of State for Power, Coal and New and Renewable Energy PiyushGoyal said that Indian Government is taking necessary actions to sustain the current economic growth of India and that major initiatives were being taken to make the economy more business friendly
Talking at the launch of International Solar Alliance Friday, Goyal urged investors to take advantage of three Ds – democracy, demography and demand – which India has provided.
PiyushGoyal said this in the launch of programmes under International Solar Alliance today at the United Nations in New York, where he is accompanied by an official delegation which includes Secretary, Ministry of New and Renewable Energy and Joint Secretary, Ministry of New and Renewable Energy.
Goyal met with Stephen Schwarzian the Chairman, CEO and Co-Founder of Blackstone Group over lunch and discussed about investment opportunities in India and the transparent policy regime that the Government under Prime Minister Narendra Modi has ushered in.
Goyal also held meetings with Jack Kutner, CEO Big Belly, Richard Kauffman, Chairman of Energy and Finance, Office of the Governor of New York, SaurabhAgarwal of Warburg Pincus and Alfred Griffin, President of the New York Green Bank.
He also addressed a meeting of large number of American investors and developers in the field of Renewable Energy which was jointly organized by Confederation of Indian Industry (CII) and US-India Business Council (USIBC) in the evening.
Earlier, Goyal had held interactions with print and electronic media at the Consulate General of India, New York.
Goyal highlighted the achievements of the Government and said that India is committed to implement the promises made by Prime Minister Modi in his discussions with the business dignitaries.
He briefed about various steps undertaken by the Government to improve energy access, rapid scale up of renewable energy, enhancing grid reliability, integration of renewable in the grid and the massive opportunity presented by the untapped demand in the Indian market.
Speaking on UjwalDiscom Assurance Yojana (UDAY), Goyal stressed upon the steps being taken to bring a drastic change in India’s power sector that can take India to double digit growth trajectory in the economy.
While addressing the meeting he said that India already has surplus power and demand stimulation through UDAY, coupled with the growth in the Indian economy will quadruple electricity consumption by 2030.
Aiming to secure gas from 24,000 MW of stranded power plants, India is open to signing long-term contracts for the fuel at USD 5 per MMBtu, Power Minister PiyushGoyal said.
Striking an optimistic note, Goyal also projected that the country’s growth rate will be in double digits by next year if not in this fiscal (2016-17), the caveat being that India needs a strong monsoon.
Speaking at the renewable energy investors round-table, co-hosted by industry bodies CII and USIBC here yesterday, the minister called upon gas producers to explore investment opportunities in the Indian market.
“India is willing to take gas for its gas-based power projects and sign long-term contracts of 10-15 years but this can be done at a fixed price of USD 5 per MMBtu as the power sector is a price-sensitive sector in the country,” he added.
With about 24,000 MW of stranded gas assets in the country, this is a huge and promising market as long as the prices are right and given the current Baltic index, he said adding: “I believe this is a viable proposition”. The minister, who also holds the portfolio for Renewable Energy and Coal, added India is currently exploring all means of gasification including coal bed methane.
Responding to investors’ queries on exchange rate volatility and the need to address the hedging issue, Goyal said: “I am open to an earlier proposal of linking the debt to a basket of currencies including the USD, the JPY or even options like inflation-linked tariffs to cover hedging risk.”
He, however, pointed out that the Indian Rupee has been relatively strong over a long term and will be one of the stronger currencies, given India’s growth potential.
Some important issues that were discussed during the course of his visit to the UK and US included need to address hedging currency volatility in tariffs, need for a stable and simplified policy and regulatory regime and standardised PPAs and equipment standardisation.
Talking about investment opportunities under the ‘Make in India’ initiative, Goyal said to incentivise manufacturing in solar sector, the government is exploring options of long-term power contracts and long-term land lease contract for manufacturers.
Goyal highlighted the opportunities for investment in India’s energy sector. He told them that India offers USD 1 trillion investment in different segments of energy sector. He said all sort of government help to investors is available “on phone call today”. State-run Energy Efficiency Services ltd (EESL) is now gearing up to set up overseas office in New York in the near future.
Aiming to secure gas from 24,000 MW of stranded power plants, India is open to signing long-term contracts for the fuel at USD 5 per MMBtu, Power Minister Piyush Goyal said.
Striking an optimistic note, Goyal also projected that the country’s growth rate will be in double digits by next year if not in this fiscal (2016-17), the caveat being that India needs a strong monsoon.
Speaking at the renewable energy investors round-table, co-hosted by industry bodies CII and USIBC here yesterday, the minister called upon gas producers to explore investment opportunities in the Indian market.
“India is willing to take gas for its gas-based power projects and sign long-term contracts of 10-15 years but this can be done at a fixed price of USD 5 per MMBtu as the power sector is a price-sensitive sector in the country,” he added.
With about 24,000 MW of stranded gas assets in the country, this is a huge and promising market as long as the prices are right and given the current Baltic index, he said adding: “I believe this is a viable proposition”. The minister, who also holds the portfolio for Renewable Energy and Coal, added India is currently exploring all means of gasification including coal bed methane.
Responding to investors’ queries on exchange rate volatility and the need to address the hedging issue, Goyal said: “I am open to an earlier proposal of linking the debt to a basket of currencies including the USD, the JPY or even options like inflation-linked tariffs to cover hedging risk.”
He, however, pointed out that the Indian Rupee has been relatively strong over a long term and will be one of the stronger currencies, given India’s growth potential.
Some important issues that were discussed during the course of his visit to the UK and US included need to address hedging currency volatility in tariffs, need for a stable and simplified policy and regulatory regime and standardised PPAs and equipment standardisation.
Talking about investment opportunities under the ‘Make in India’ initiative, Goyal said to incentivise manufacturing in solar sector, the government is exploring options of long-term power contracts and long-term land lease contract for manufacturers.
Goyal highlighted the opportunities for investment in India’s energy sector. He told them that India offers USD 1 trillion investment in different segments of energy sector. He said all sort of government help to investors is available “on phone call today”. State-run Energy Efficiency Services ltd (EESL) is now gearing up to set up overseas office in New York in the near future.
LONDON: Expressing confidence that India is set to become the biggest energy market, Power Minister PiyushGoyal has said that affordability, access and inclusiveness are driving India’s energy policies.
“India, which is projected to see demand quadruple in the coming years will also lead the way in scaling up energy efficiency in line with commitments towards combating the challenges of climate change,” Goyal, said at an investors roundtable on renewable energy here late yesterday.
Speaking at the roundtable, organised by industry body CII, the Minister for Coal and New and Renewable Energy said India’s growth story in India has just begun with the “country set to become the largest energy market” representing aspirations of a billion plus people in the coming years.
This is even more significant in view of global scenario when most developed economies are witnessing a declining trend in their energy demand, he added.
“The idea is to make power available to all at affordable prices. Our policies have to make a difference to the last man at the bottom of the pyramid and change his life for the better,” he said.
Citing examples of how solar tariffs have dipped to Rs 4.34 per unit through competitive transparent systems he emphasised that scale will have a large role to play in bringing down costs.
The minister said India and the UK are natural partners and a deeper engagement can lead to a win win for both nations and economies.
While India will gain from new technologies, UK can make the same technologies more accessible by manufacturing in India, capitalising on Indian skills and the scale to bring down costs, he added.
Elaborating on how India is leading from the front on issues relating to climate change, Goyal said India is among the few nations that has imposed a carbon tax even as measures are being taken to scale up energy efficiency and de carbonise the transport industry.
He also informed the gathering of investors on detailed plans of how electric vehicles were being promoted as an alternative to ones being run on petroleum fuels.
“For a country like India, replacing petroleum fuel is even more important as this would reduce import dependence and ensure energy security,” Goyal added.
Brushing aside worries over any spillover effect of SunEdiso’s debt woes on India’s solar power plans, Renewable Energy Minister PiyushGoyal today set the record straight, saying some firms not doing well will not impact the programme’s success.
“There are always certain cases of firms failing all over the world in every industry. There was a point of time where very large airline companies failed in different parts of the world. You have a failed steel sector in the UK. It does’t mean that the whole sector collapses,” he said when asked about the debt problems being faced by SunEdison.
Speaking to reporters on the sidelines of an event organised by industry body CII here late yesterday, Goyal said there are one or two instances of companies which do’t do well or may have some problems.
“But it’s not as if only these one or two firms brought the tariffs down. We have 50 companies who brought tariffs down even below what Sun Edison or Sky Power quoted. So, I do’t think it deters us or deflects the success of the solar programme at all,” the minister said.
India has very large corporations, both domestic and international, which have won contacts in the solar energy field at even more competitive prices than (Sun Edison and Sky Power), added Goyal, who also holds the portfolio of power and coal.
“And should there be a problem with one or two companies, others will take over those projects… Investors need not be worried about it, bankers are not worried about it. There is enough interest in the market for much larger volumes than what they have taken up in India,” he added.
Earlier this month, reports had surfaced that the Adani group is in talks with the US-based renewable energy major SunEdison to acquire the latter’s Indian assets.
The group led by billionaire GautamAdani has asked bankers to sound it out on whether SunEdison is also putting on the block its solar power projects in India.
On the use of coal to generate electricity, Goyal said the dry fuel will continue to be important.
“It’s the base load of power in India. We will continue to have coal and newer coal plants coming in. But India is a very responsible global citizen and we working on clean coal technologies,” he added.
“We have research going on with Australia on clean coal. I will shortly be tying up with MIT in Cambridge for developing clean coal technologies… Coal will remain mainstay of our energy, but we are open to looking at cleaner coal technologies so that we do’t do what the West has done to the environment over the last 150 years,” he daid.
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