Energetica India Magazine December 2020

52 energetica INDIA- December_2020 “2020 has been an unprecedented year that released massive unpredictability into the power sector. Power demand had weakened and DISCOM health turned even more delicate. Delay in project execution led to a hefty inventory buildup across the value chain. Businesses had to reconceptualize ways to keep their people safe, ensure business continuity and adapt to a rapidly evolving situation to restore demand. It seemed we had to take one day at a time and commit to making the right decisions that helped India build back better when normalcy returned. In hindsight, however, the year brought out the best in us. A culture of innovation ensured we, as a company, could rebound as quickly as possible. We made digital technology our ally and see how the future will be heavily dependent on it. Work culture and business processes, from boardroom to the field, will be handled on a single interconnected platform, necessitating the entire power infrastructure to be upgraded without ado. We don’t know how the next crisis can look like. In recent years, India has made considerable strides in the power and energy sector. It has improved markedly through the creation of a single national power system and major investments in renewable capacity. It is now experiencing higher shares of variable renewable energy as well. Given the hardships unleashed by the pandemic, the government put its weight behind the power sector with a massive stimulus package and various incentives and initiatives for connected segments such as EVs and green energy. We look forward to its continued efforts in creating an enabling climate in which technology-enabled infrastructure can flourish. We hope to see a greater focus on grid digitalization, energy efficiency, transport electrification besides system integration and interconnections. We are deeply encouraged and are confident of India’s fundamental growth drivers and progress toward a carbon-neutral future in which electricity forms the backbone of the entire energy system.” Renewable Energy and e-Mobility Transition The pandemic has accelerated the energy transition and the electric vehicle revolution taking place in India. We saw the government recently revise the renewable energy target to an even more ambitious 220 GW by 2022 from 175 GW. To understand the magnitude, we can imagine about 660 million PV panels or 22 billion LED bulbs or over 90000 utility-scale wind turbines. That is a huge market to tap into to create jobs, generate economic momentum and reduce our carbon footprint. We also saw a 20 percent jump in EV adoption in 2019-20, central and state governments further incentivizing buying, and auto manufacturers going ahead with their earmarked investments and continuing to plan rollouts. But to achieve the 30 percent EV adoption target by the end of the decade, the vital thrust to operationalize a nationwide network of accessible charging infrastructure remained largely amiss, more so in the public transport space. It is hard to imagine a sustainable N Venu Managing Director - India, Head – South Asia, Hitachi ABB Power Grids POWER SECTOR Need for Greater Focus on Grid Digitalization