Future Power Bids to Include Manufacturing using Advanced Technology: RK Singh

The future power bids will be planned to encourage manufacturing using advanced and latest technology, said RK Singh, Power and New and Renewable Energy Minister. He was speaking at the Plenary Session of a global symposium ‘India PV Edge 2020’ organized by NITI Aayog, Ministry of New & Renewable Energy, and Invest India together on October 6, 2020.

October 07, 2020. By Manu Tayal

The future power bids will be planned to encourage manufacturing using advanced and latest technology, said RK Singh, Power and New and Renewable Energy Minister.

He was speaking at the Plenary Session of a global symposium ‘India PV Edge 2020’ organized by NITI Aayog, Ministry of New & Renewable Energy (MNRE), and Invest India together on October 6, 2020.

During the session, India’s most prominent policy makers highlighted India’s strong impetus on renewable energy, the investment climate and the country’s ambition and opportunities in solar manufacturing.

RK Singh stated that “India has largest renewable energy growing capacity in the world. India had promised on sidelines of COP-21 that by 2030, 40 per cent of the country’s energy capacity will be from Non-Fossil Fuel sources. We are already at 38.5 per cent and by 2030, 60 per cent of our energy capacity is expected to be from Non-Fossil fuel sources.”

Power Minister further said that we are on our way to achieve our targets of 175 GW of renewable energy capacity by 2022 and 450 GW of renewable energy by 2030.

“Addition of renewable energy capacity will continue due to two reasons, one because country’s power demand is growing and another due to replacement gradually phasing out traditional power generating systems with Renewable Energy systems,” added Singh.

He also mentioned that we are committed to fulfil our visions to ‘electrify our economy’ and to ‘Green our Electricity’. The Minister also pointed out the ambition of e-mobility and Clean cooking based on electricity and powered by green energy.

Besides, Power Minister also talked about various interventions of Ministry to realise the Prime Minister’s vision of ‘Aatmanirbhar Bharat’. Singh said that we have taken various steps like safeguard duty, interest subvention and Approved List of Models and Manufacturers etc.

Adding to it, MNRE, Secretary, Indu Shekhar Chaturvedi said that the ministry is implementing a number of supply side interventions including Basic Customs Duty (BCD), Performance Linked Export Scheme and Interest Subvention Scheme to promote domestic manufacturing in renewable energy sector. He also mentioned about demand side interventions like domestic content requirement under KUSUM and Rooftop Scheme that are being implemented by ministry to supplement the Aatmanirbhar Bharat efforts.

Meanwhile, the symposium delivered a message to the global and Indian solar Industry and investors that India aspires to be a cutting-edge solar manufacturing hub, which is a top priority for the Indian government. A momentum for collaboration between technology providers, solar developers and manufacturers has been catalyzed by this symposium.

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