Coal still backbone of India’s energy, says ONGC Executive Director Ratnesh Kumar at WION World Pulse summit

Ratnesh Kumar, Executive Director at Oil and Natural Gas Corporation (ONGC), said on Wednesday (Mar 18) that India’s energy transition must follow a balanced approach, stressing that decarbonisation should focus on “phase down” rather than a complete “phase out” of conventional energy sources.

Speaking at the WION World Pulse summit in New Delhi, Ratnesh Kumar highlighted that coal continues to play a crucial role in India’s energy mix, particularly in ensuring grid stability and meeting rising power demand. "For de-carbonisastion, instead of phasing out, you have to go phase down. The current energy mix of India indicates that coal is still the backbone of our energy. For grid power, we also need power. In terms of renewable energy, it now comprises 51 per cent, which is more than the installed capacity. Alone, solar and wind can't do it; we need a battery, a storage system and PSP."

ONGC shifts towards renewable energy

Responding to a question on whether climate diplomacy is increasingly shaped by geopolitics rather than planetary urgency, Kumar underscored the need for a balanced and sustainable approach.

He said, “As Mahatma Gandhi has said, 'Nature has sufficient to provide everyone's need, not everyone's greed.' So, nature has its own way of balancing everything. However, a change has come, and we are looking to decarbonise our operation and focus more on renewable energy. We incorporated ONGC Green Limited in 2024 and acquired Ana Power with 2.4 GW capacity. Our target is 10 GW by 2030. We are diversifying into NSMR (Nuclear Small Model Reactor), solar, wind and Geo-thermal other than oil producing.”

Kumar’s remarks reflect India’s broader strategy of balancing energy security with sustainability, as the country continues to expand its renewable energy capacity while maintaining reliance on conventional sources to meet growing demand.