Speaking at the G20 energy ministers’ meeting in Goa, the Indian prime minister shared his government’s energy transition plans
Prime Minister Narendra Modi has said India is ramping up its efforts to ensure sustainable growth during its energy transition, replacing fossil fuels with renewables and becoming a hub for so-called green hydrogen, generated from wind, water and solar power.
“We achieved our non-fossil, installed electric capacity target nine years in advance. We have now set a higher target, we plan to achieve 50% non-fossil installed capacity by 2030”, he told the G20 energy ministers’ meeting in Goa.
Prime Minister Modi noted that India is among the global leaders in solar and wind power. In 2021, the country committed to cut its emissions to net zero by 2070. Modi went on to outline India’s efforts in developing technology and infrastructure for the energy transition.
“For decarbonising India we are working on a mission of green hydrogen alternative”, he said. “That aim is to make India a global hub of production and export of green hydrogen and its derivatives. We are happy to share our learnings.”
India’s National Green Hydrogen Mission was unveiled by the Modi government in 2022 with a target of producing 5 million tons of renewable hydrogen by 2030 and securing a 10% market share of the global hydrogen trade.
Earlier this year, New Delhi approved a nearly 175 billion-rupee ($2.1 billion) program to incentivise green hydrogen fuel producers, covering at least 10% of their costs. New Delhi is also considering bilateral agreements with several countries to trade green hydrogen. Power Ministry officials told the media last week India and Japan will be discussing setting up a joint credit mechanism to enable buyers of green hydrogen to receive carbon emission credits generated from the production of green hydrogen.
Addressing the G20 via a video link, Modi also stressed the need to support countries of the ‘Global South’ in their efforts to secure economic growth while reducing their carbon footprints. “The world looks up to this group [G20] to advance a sustainable, just, affordable, inclusive and clean energy transition, and while doing this it’s important that our brothers and sisters in the Global South are not left behind,” he said, urging the grouping to ensure low-cost financing for developing countries, and to find ways to bridge technology gaps for energy security.
Modi also highlighted, among other government initiatives targeting green growth, that India has rolled out a cleaner-burning version of petrol, dubbed E20, or petrol blended with 20% ethanol, and the aim is to have special fuel stations retailing E20 fuel across the country by 2025.
The 14th Clean Energy Ministerial and 8th Mission Innovation Meeting kicked off in Goa on Friday under the chairmanship of R. K. Singh, India’s Minister for Power and New and Renewable Energy, and with the participation of ministers of more than 30 countries. Addressing the meeting, Singh said that while India’s per-capita carbon emissions are much lower than the world average – around 2.29 tons against 6.3 tons globally – the country has focused on cutting fossil fuel consumption and increasing renewable energy generation. “We have set targets to meet 50% of our energy requirements from non-fossil sources by the year 2030. India will achieve more than its target of generating 500 GW renewable energy by 2030,” he pledged.
