How has life changed for companies as countries move towards renewables and fossil fuel prices rise again?
Claudio: If we set aside for a moment the hike in fossil fuel prices, the pandemic and the crisis we are managing, we had invested in this transformation a few years ago. Our partners, customers and other stakeholders in this industry are going through a tremendous transformation, driven by rising penetration of renewables. Certainly, the drive is stronger now than a few years ago, thanks to the need for de-carbonising. Electrification is becoming more and more the centre-piece of this transition. We saw it coming a few years back. Increase in share of renewables and enabling technologies will make electricity the main source of energy. We will need more efficient ways to distribute electricity.
At the same time, the electrification drive and new ways of generating energy have brought new generation and consumption players. Of course, we have to play a key role as a global leader, from making sure that our technology enables integration of renewables to ensuring the best use of that electricity. For example, prolification of electrical vehicles is a big change. Same is the case with data centres. Going forward, every country, including India, is going to invest in building its own capacity in data centres, servers and associated digitalisation with IoT and so on.
This story is from the April 18, 2021 edition of Business Today.
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This story is from the April 18, 2021 edition of Business Today.
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