- India Energy Week is the first significant energy event of the G20 calendar: PM
- PM also flagged off the commercial roll-out of the twin-cooktop model of Indian Oil’s indoor solar cooking system
- He touched upon the subject of battery cost in EVs taking around half the total cost of the car
- India has become the 2nd largest manufacturer of mobile phones in the world which has led to the formation of the world’s largest aspirational class: PM
With the aim to showcase India’s rising prowess as an energy transition powerhouse, Prime Minister Sh Narendra Modi today inaugurated the India Energy Week (IEW) 2023 in Bengaluru. He also launched uniforms made of recycled PET bottles, under the ‘Unbottled’ initiative of Indian Oil and the twin-cooktop model of Indian Oil’s indoor solar cooking system. The twin-cooktop model was commercially rolled-out at the event. Indian Oil had earlier developed an innovative and patented ‘Indoor Solar Cooking System’ with a single cooktop. It is learnt that on the basis of feedback received, the current solar cooking system has been designed to offer more flexibility and ease. The official note said that it is a revolutionary and reliable indoor solar cooking solution that works on both solar and auxiliary energy sources simultaneously.
The PMO informed that later in the day, the Prime Minister also unveiled E20 fuel at 84 retail outlets of oil marketing companies in 11 States/UTs along the lines of the ethanol blending roadmap. E20 refers to a blend of 20 per cent ethanol with 80 per cent petrol, causing lesser pollution. He also flagged off the Green Mobility Rally where vehicles running on green energy sources participated to help create public awareness for green fuels.
Quoting International Energy Association, the Prime Minister remarked that India’s energy demands will be highest in the present decade which presents an opportunity for the investors and stakeholders of the energy sector.
The Prime Minister explained four major verticals for the strategy for the energy sector: increasing domestic exploration and production, diversifying the supply, expanding fuels like biofuel, ethanol, compressed biogas and solar and de-carbonisation via electric vehicles and hydrogen. He asked the leadership of the industry to utilise technology and the startup ecosystem of India to expand their energy landscape.
A press release from PIB noted that the PM also touched upon the crucial subject of battery cost in EVs and noted that its cost is 40-50 per cent of the cost of the car. He informed that the government had started a PLI scheme worth Rs 18,000 crores which will be a significant step towards manufacturing advanced chemistry cells of 50 GigaWatt hours.
Sh Modi noted that the mass movement going on in India regarding energy transition has become the subject of a case study. He cited the examples of houses, villages, and airports running on solar power, and agriculture activities being carried out with solar pumps.
Throwing light on the solar cooktop launched today, he said that it is going to give a new dimension to Green and Clean Cooking in India. “More than 3 crore households will have access to solar cooktops within the next 2-3 years”, Modi remarked. PM highlighted the rapidly shifting trends towards effective methods of energy conservation with the increased popularity of LED bulbs and electric vehicles.
He linked India’s effort for green growth and energy transition with Indian values of circular economy, which is part of every Indian’s lifestyle and is further strengthening Mission LiFE. Modi called upon the stakeholders to explore every possibility related to India’s energy sector and get involved with it, as he said, “Today, India is the most suitable place in the world for your investment.”
Many government dignitaries including the Governor of Karnataka, Sh Thawar Chand Gehlot, K’taka CM, Sh Basvaraj Bommai, and union ministers Sh Hardeep Singh Puri and Sh Rameshwar Teli were present during the event.
India Energy Week is being organised from the 6th to the 8th of February and aims to showcase India’s rising prowess as an energy transition powerhouse. The event brings together leaders from the traditional and non-traditional energy industry, governments, and academia to discuss the challenges and opportunities that a responsible energy transition presents. This year, it will witness over 30 ministers from across the world, more than 30,000 delegates, 1,000 exhibitors and 500 speakers.