&imwidth=800&imheight=600&format=webp&quality=medium "WION World Pulse: World wants to invest in India because of our green energy 'success story', says Indian minister Pralhad Joshi")
Pralhad Joshi, Indian Minister of New and Renewable Energy, spoke at the WION World Pulse event in New Delhi on Wednesday (March 18). He stressed that India is on the right path when it comes to renewable energy. Joshi said the country has achieved its targets when it comes to non-fossil fuels. "India is the third largest producer of electricity through renewable energy in the world," the minister said. He added that we have achieved "renewable energy and non-fossil source targets". Joshi added, “We are marching ahead in the right direction to achieve 500 gigawatts, and the manufacturing capacity has increased to 172 gigawatts.”
Future of green energy in India
The minister said India's energy future is looking good, with non-fossil sources, renewable energy and green hydrogen. He said the cost of green hydrogen has come down, something that "no one expected." He also talked about green ammonia used in the fertiliser industry, which is replacing some energy from other countries. Joshi added that it is being mixed, and they have started adding 5 per cent green hydrogen to piped natural gas in city distribution. "The more the mix is increased, the less would need to be imported," he said. In the manufacturing sector, green hydrogen can also become an alternative, Joshi said.
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PM Narendra Modi envisioned a green future: Joshi
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The minister stressed that they have taken major steps in the field of renewable energy under the leadership of Prime Minister Narendra Modi. He said the PM thought of this and now the world wants to invest in India because we have "a success story" to tell.
The minister also admitted that renewable energy does have some challenges, such as bringing the cost down. But he asserted that they have moved forward in this area. "Transmission remains a challenge, and we need to use new technology, such as battery storage," Joshi said.
India is taking major steps to ensure the growth of green energy and bring down the cost. According to estimates, the cost of green hydrogen could fall significantly due to lower renewable energy prices, cheaper electrolysers, and incentives, bringing it on a competitive scale with fossil-based fuels. Green hydrogen is considered the "holy grail" of the energy transition, and its production is done with a zero-carbon footprint.
