April 13, 2023

MNRE’s Target: India’s Race to Net Zero

by wpweb_sgurrenergy in Blog

India races toward Net Zero Target of 2070

India’s peak demand this summer is pegged at 229GW; by these estimates it will easily surpass the last year peak demand, and with years to come energy demand will increase. With post pandemic effects cooling off and supply chain issues easing out, India once again cobbles to achieve the set target of net zero by 2070.

MNRE's Target: India's Race to Net Zero

Ministry of New and Renewable Energy in its latest statement on 05 April 2023 has announced a plan to add 250GW of renewable energy in the next five years to achieve its target of 500GW of clean energy by year 2030.

This is in line with “India’s Updated First Nationally Determined Contribution Under Paris Agreement”-August 2022 Submission to UNFCCC where 50% of the cumulative electric power installed capacity is planned to be achieved by non-fossil fuel-based energy resources by 2030.
India currently boasts a total renewable energy capacity of approximately 175GW by the end of Feb 2023 which makes an approximately 42% of total energy mix and has committed to increase the energy mix to 50% of 820GW by year 2030.

With the latest statement, the energy mix from renewable energy would be increased from planned 50% by 2030 to approximately 61% by 2030, which is a major push by India to achieve its energy demands through renewable energy. SgurrEnergy observes this shift to be a major step, considering the non-renewable projects not being commissioned or sanctioned in recent past to make the remaining 50% of the energy mix of the basket.

India's Race Toward Net Zero 2

It’s quite evident the industry will race to achieve the set targets for which Government of India has already taken slew of measurements which includes the announcement of the PLI scheme and providing the extension to implement ALMM for the project proponents.

This decision comes with its own risk of completing the projects on record time which will require an efficient use of quality man-power and the technology driven solutions in construction and quality monitoring which shall be engaged in ensuring the quality of the plant being built.

SgurrEnergy boasts a proven track record of providing quality monitoring and project management services through its in-house team that are assisted with agile real time technology driven data sets to be monitored, thereby ensuring the project works are completed on time by apprising the decision makers with the outcomes of the day to day activity being undertaken at the project work site.

We are quite optimistic in achieving the energy targets of the country and the world as a whole.