Union Minister for Power and New & Renewable Energy, R. K. Singh, unveiled a collaborative endeavour between the Government of India and The Energy and Resources Institute (TERI) to establish a center dedicated to energy transition. The announcement took place during the 23rd edition of the World Sustainable Development Summit (WSDS), organized by TERI, on February 9 in New Delhi.
Addressing the summit, Singh emphasized TERI’s pivotal role in charting sustainable pathways for energy transition and fostering innovation within the renewable energy sector.
Highlighting India’s leadership in climate action and energy transition, Singh said that 44% of the nation’s power generation capacity stems from non-fossil-fuel sources. With over 180 GW of renewable capacity out of a total of 427 GW, India stands at the forefront of renewable energy adoption. Singh also underscored India’s unique approach, being the sole country issuing bids for round-the-clock renewable energy.
Singh announced that India has surpassed its nationally determined contributions (NDCs) well ahead of schedule, positioning itself as the only major country whose energy transition aligns with limiting global temperature rise to sub-2 degrees. He urged developed countries, responsible for 77% of legacy carbon emissions, to acknowledge the imperative of vacating carbon space for developing nations to thrive.
In addressing emissions discourse, Singh stressed the importance of considering per capita emissions, revealing that developed economies’ per capita emissions are four times the global average. He urged developed nations to provide crucial support in technology and finance to facilitate energy transition in developing countries.
Singh emphasized sustainable development on dual fronts: reducing emissions from high emitters and ensuring technology and finance access for developing nations. While acknowledging India’s self-sufficiency, he emphasized the necessity for other developing nations to have access to finance and technology.
The Minister reiterated Prime Minister Modi’s commitment to Mission LiFE, highlighting the need to evolve the world’s development model to ensure sustainability amidst rising demand. He highlighted India’s initiatives in promoting green vehicles and scaling up green hydrogen production.
Nitin Desai, Chairperson of TERI Governing Council, officially announced the establishment of the Center for Energy Transition in Hyderabad, emphasizing its role in devising comprehensive energy transition strategies for India and beyond.
TERI’s Director-General, Vibha Dhawan, echoed TERI’s unwavering dedication to sustainability and collaboration, stressing the significance of innovative solutions in tackling climate change challenges.