PM Modi calls upon private sector to invest in sustainable energy

Prime Minister Narendra Modi on Friday called upon private sector to invest in sustainable energy assuring them all support from the government.




Addressing a webinar on ‘Energy for Sustainable Growth’, the prime minister underlined the criticality of transition towards renewable energy and said that sustainable growth is possible only through sustainable energy sources. He reiterated his commitment made at Glasgow to reach Net Zero by 2070.

Referring to recently announced National Hydrogen Mission, the Prime Minister said India can become hub of green hydrogen given its inherent advantage in the form of abundant renewable energy power. He asked for private sector efforts in the area.

PM Modi also pointed towards challenge of energy storage which has received significant attention in the budget. “Provisions have also been made in this year’s budget regarding battery swapping policy and inter-operability standards. These will reduce the problems faced in the use of electric vehicles in India,” he said.

The Prime Minister emphasized that along with energy production, energy saving is equally important for sustainability. “You should work on how to make more Energy Efficient A/C, Efficient heaters, geysers, ovens in our country”, he exhorted the participants.

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Stressing the need to prioritize energy efficient products, the Prime Minister gave the example of promotion of LED bulbs at large scale. He said that first the government brought down the cost of LED bulbs by promoting production and then 37 crore LED bulbs were distributed under Ujala scheme. This has led to saving of forty eight thousand million Kilo Watt Hour electricity and saving of about 20 thousand crore rupees in the electricity bills of poor and middle class families. Furthermore, annual carbon emission saw a decline of 4 crore tonnes. Local bodies are saving 6 thousand crore rupees every year due to adoption of LED bulbs in street lights, he added. He also suggested exploring micro hydel projects to enhance electricity production. “World is witnessing depletion of all types of natural resources.