Energy Transition is a Strategic Investment and requires equity support for at least 8 to 10 years. Short term approach to transition funding (4-5 years) will fail. The major energy requirements for India include:
500 GW of Renewable Energy including 450 GW of Solar Power by 2030.
Battery Energy Storage System (BESS) for Grid support for peak hours and storage being the need of the hour. (6 to 10 per cent of the Renewable Capacity running 3-4 hours daily). This will of course get support from Pumped Hydro Storage and other technologies. Battery technology, whether Li-Ion or Sodium-Ion, will remain a challenge till the time Indian companies start producing Cells in India.
Hydrogen as the fuel of the future with lower cost of production. Colour of Hydrogen will always remain a concern but in the transition era, Blue Hydrogen should be encouraged to ensure that all systems, structures, and regulations are in place. Hydrogen as a strategic resource for long distance travelling and also as an alternative source of energy to fossil sources of energy is the serious need for India and is clearly seen in the Government of India's focus of giving various incentives under Production Linked Incentive (PLI) schemes including for Hydrogen. Bio-Hydrogen potential in India is very large and needs to be fully explored to ensure the agri-value chain is suitably rewarded in India.
Alternative fuels like Ethanol, Compressed Bio Gas (CBG), etc. which support Energy Transition.
Financing Facts
This story is from the AgroSpectrum India Sep 2024 edition of AgroSpectrum.
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