HOPPING ON HYBRID
Outlook Business|May 2024
India's clean energy transition hinges on rapid capacity addition-it must reach the 500 GW clean energy production target by 2030. And from pure play the preference now is for hybrid energy sources
Ayaan Kartik
HOPPING ON HYBRID

Aditya Birla Group’s flagship metal company Hindalco Industries wants to meet 30% of its energy requirements via renewable sources by 2030. As the deadline inches closer, the company is experimenting with several technologies. One of the alternatives available from which the company has high hopes is the hybrid combination of solar, wind and pumped hydro. “This is a unique arrangement. If this works, it can revolutionise smelting in India,” says Satish Pai, managing director, Hindalco.

The optimism about hybrid technology from a player engaged in an energy-intensive industry has not gone unnoticed. A look at the power sector in the past one year shows a growing affinity for the development and procurement of hybrid energy, which combines different energy sources such as solar and wind.

Power generators such as NTPC, Tata Power, SJVN, Sembcorp and Torrent Power are active in the hybrid energy space. Large industrial states in the country are also ramping up the presence of hybrid power in their energy mix. In the past couple of months, Maharashtra and Gujarat have invited bids for the procurement of 500 megawatts (MW) of wind-solar hybrid power each.

When seen in the larger scheme of things, the importance of the pick-up in hybrid power becomes evident. India has set an ambitious target of installing 500 gigawatts (GW) of renewable energy capacity by 2030. As of April 9, Union power ministry data showed that renewable capacity stood at 190 GW. If the country must meet its target in the next six years, it must add at least 50 GW of renewable energy annually.

Flagging Momentum

هذه القصة مأخوذة من طبعة May 2024 من Outlook Business.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة May 2024 من Outlook Business.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.

المزيد من القصص من OUTLOOK BUSINESS مشاهدة الكل
Recognizing MSME Excellence and Charting the Future: Insights from Outlook Business Spotlight Awards 2024
Outlook Business

Recognizing MSME Excellence and Charting the Future: Insights from Outlook Business Spotlight Awards 2024

MSMEs are the \"unsung heroes who keep our industries humming and our dreams soaring.

time-read
3 mins  |
June 2024
"Sustainability is an Essential Component of Lubrizol's Corporate DNA"
Outlook Business

"Sustainability is an Essential Component of Lubrizol's Corporate DNA"

Bhavana Bindra, Lubrizol's dynamic Managing Director, shares her views on sustainable growth and Lubrizol's impact in India.

time-read
3 mins  |
June 2024
Modernizing Mobility: India's Need For A Smarter And Sustainable Passenger Transportation Solution
Outlook Business

Modernizing Mobility: India's Need For A Smarter And Sustainable Passenger Transportation Solution

India is at the forefront of a transformative wave of urbanisation. To combat climate change and urban pollution, upgrading infrastructure and embracing sustainable mobility, particularly in efficient mass transportation systems is an imperative.

time-read
2 mins  |
June 2024
Bank Imbalance
Outlook Business

Bank Imbalance

As investors turn to more lucrative options, banks in India are seeing sluggish growth in deposits. With a limited arsenal to compete with high returns available elsewhere, they are struggling to balance deposits with the amount of loans they are handing out

time-read
10 mins  |
June 2024
Restoring Degraded Lands: Natural Farming Shows The Way
Outlook Business

Restoring Degraded Lands: Natural Farming Shows The Way

As we approach World Environment Day, it is important to acknowledge that we are in a climate 'poly-crisis' a series of interconnected and compounding crises across sectors.

time-read
3 mins  |
June 2024
Powering A Sustainable Future
Outlook Business

Powering A Sustainable Future

By establishing a dedicated network for renewable energy transmission, the Green Corridor Project not only addresses the challenges of integrating clean energy sources but also contributes to land revitalisation

time-read
2 mins  |
June 2024
Future-Proof Your Plate: But first Climate-Proof Our Farmlands, Farmers livelihoods & Our Shared Lifeline
Outlook Business

Future-Proof Your Plate: But first Climate-Proof Our Farmlands, Farmers livelihoods & Our Shared Lifeline

Let's return to our roots, empower our farmers, and build a food system that nourishes not just our bodies, but our future.

time-read
3 mins  |
June 2024
India Fast Tracks Steps To Avert Desertification
Outlook Business

India Fast Tracks Steps To Avert Desertification

With a slew of steps targeted at conservation and large-scale tree plantation, India is moving firmly towards bringing at least one-third of its land under forest or tree cover.

time-read
1 min  |
June 2024
Luminous Power Technologies: Pioneering Sustainable Solutions for a Brighter Future
Outlook Business

Luminous Power Technologies: Pioneering Sustainable Solutions for a Brighter Future

Luminous Power Technologies is a trailblazer in the realm of energy solutions, dedicated to illuminating a brighter future for all.

time-read
1 min  |
June 2024
Nature's Carbon Vaults, A Lifeline Amidst The Desert
Outlook Business

Nature's Carbon Vaults, A Lifeline Amidst The Desert

Rajasthan's wetlands are not merely scenic spots, but their role as carbon sinks, biodiversity hotspots, and water reservoirs makes them invaluable assets in the fight against climate change.

time-read
2 mins  |
June 2024