The third meeting of the Energy Transition Working Group under India's G20 Presidency on Monday saw deliberations on Just Transition (JT), led by the ministries of coal and power, to decide on the country's pathway for sustainable energy transition. Sector leaders -national miner Coal India (CIL) and country's largest power generator NTPC opined that as the country's economic needs take precedence, coal consumption cannot be reduced overnight.
Highlighting that India is already close to its emission reduction target, seven years in advance, Alok Kumar, secretary, Ministry of Power, said accelerating energy transition shall boost energy security. "We will reduce dependence on oil & petroleum products in the long term. In the coming years, renewables will be much cheaper to use while the cost of fossil fuel will go up. If we have the right mix and move in a calibrated manner, it will be affordable for the masses, reduce our fossil fuel imports, and bring energy security," Kumar said.
This story is from the May 16, 2023 edition of Business Standard.
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This story is from the May 16, 2023 edition of Business Standard.
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