The COP27 conference emphasized the pressing need to pay attention to climate change and to speed up the shift to a low-carbon economy. India is well-positioned to take the lead in this effort given its ambitious targets of producing 450 GW of renewable energy by 2030 and reaching net zero emissions by 2070. According to Morgan Stanley's most recent predictions, India will have the third-largest economy in ten years, therefore it comes as no surprise that revolutionary advances in clean technology are both urgently needed and attractive to investors.
India stayed away from the UK-led accord on stopping deforestation and declined to ratify the US and EU's "Global Methane Pledge," which aims to reduce global methane emissions by 30% over 2020 levels by 2030. The primary gas driving climate change, CO2, has a lifetime of 100–1,000 years, according to the 6th Assessment Report of the Intergovernmental Panel on Climate Change.
India stayed away from the UK-led accord on stopping deforestation and declined to ratify the US and EU's "Global Methane Pledge," which aims to reduce global methane emissions by 30% over 2020 levels by 2030. The primary gas driving climate change, CO2, has a lifetime of 100–1,000 years, according to the 6th Assessment Report of the Intergovernmental Panel on Climate Change.
The need to switch to green, renewable energy is becoming more urgent due to the conflict in Ukraine, the severe heating deficit, and the high cost of electricity as winter grips Europe (RE). According to a recent International Energy Agency (IEA) assessment, the amount of renewable energy capacity added globally over the course of the last 20 years will be equaled within the next five years.
Gurugram-based ReNew Power and Microsoft India have agreed to a renewable energy arrangement for 150 MW. ReNew Power identifies itself as India's top provider of renewable energy. According to ReNew Power's official announcement, it is one of the biggest deals made of its kind in India.
Andhra Pradesh has come forward to participate in several memoranda of understanding (MoUs) for green energy projects. The project's total cost has been estimated to be worth Rs.81,000 crore. The state stands highest among all others, as it has identified 30 energy efficiency financing projects. According to the TOI report, The Bureau of Energy Efficiency has estimated the state's investment potential to be more than Rs.412.30 crore in energy efficiency.
Over the course of five years, India along with some others countries will be the key focus in regard to renewable energy. As they are the emerging leaders among the extraordinary increase in renewables energy deployment. India officially took the presidency of the group of the twenty countries who annually rotates it between its members forming the most powerful inter-governmental forum also known as G-20.
Nuclear power production is the next plan on India’s clean energy production list. India has been trying its best to meet the climate change targets, focusing mainly on supplementing the country's renewable energy. The policy interventions regarding the project could include incentives, making its prime focus to set up a public-private partnership mode, encouraging the private sector for setting up nuclear power plants.
According to a new report, India is estimated to have a significant rise in low-carbon energy investments by 2023. The report from Oilprice.com highlights that India might attract a business of almost $10 billion in the low-carbon energy segment. Bank of America analysts have considered India to be a bright spot in a subdued capital-raising market, it adds.
The CleanMax Enviro Energy Solutions, a commercial & industrial (C&I) renewable energy company partnered with Meta to invest in the 33.8 megawatts (MW) of renewable energy projects that are being set up in India. Under the deal, CleanMax will have full control over the project, owning and operating. While for years to come Meta will get to purchase the 100% of the environmental attributes from the projects.
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.