Indian Market Is The Biggest Market For Solar; Will Continue To Be: MNRE Min R K Singh

The press conference for the fifth assembly of the International Solar Alliance (ISA) held in New Delhi, was led by the MNRE Minister R K Singh, who shared significant insights on the work being done by the organisation while also shedding light on several aspects of the Indian solar industry that are gaining momentum. Here is a look at the talking points put forward by the Minister at the congregation…

Energy Transition

R K Singh iterated the importance of energy transition to renewable energy. This energy transition, he maintained, is possible only when there is expansion of access to energy to 700 million people in the world. He added that the ISA is working towards accelerating this transition continuously and is looking to achieve it by providing knowledge, consultancy and providing support through substantial experiences.

The faster the energy transition takes place, the better it is or the world, he mentioned while also stating that the current energy crisis, that can be attributed to the prices of gas and petroleum products escalating, can be addressed with the energy transition.

Issues to be Taken up at COP 27

When asked about the issues that will be addressed at COP 27 in Egypt, R K Singh said, “We will be presenting our mission and vision. We will be taking forward the cause of energy transition- exactly what the ISA is about. That said, however, energy transition is a big global challenge.”

“We will also be using the platform to urge countries, especially the developed ones, to contribute and deliver on their pledges in this mission of energy transition.”

He went on to further point out that an unprecedented number of people are without energy today and access to energy takes precedence over the energy transition.

Assisting With Energy Transition

Countries need every kind of assistance to facilitate the “transition to clean and green energy”, R K Singh pointed out. While knowledge and consultancy are already being provided towards this goal, the ISA is also supplying the expertise to countries that need it by running solar training programs, which will be scaled up.

Herein, the minister highlighted the role of the developed countries with reference to providing the funding. Funds for making payments security in place and a fund programme for (project) insurance is being set up.

Partnership With France

The International Solar Alliance was founded in unison by India and France. Ever since, the countries have been witnessing increased cooperation in the area of renewable energy. About 10 per cent of the solar capacity in India has been installed by French firms, revealed the French Ambassador to India last year.

Other than the Solar Alliance, France and Australia are also two of the five member countries of  One Sun One World One Grid initiative.

During the conference, the MNRE Minister said that India and France have already partnered on nuclear energy and partnership on renewable energy and green hydrogen is already in the works, while adding in the same breath that “green hydrogen has a big role to play in the energy transition.”

One Sun One World One Grid

About One Sun One World One Grid, the leader said that dialogues have been “initiated with different regions” as part of the initiative. Technical groups have been also set up to look into the feasibility of connections. There are two regional grid connections with South East Asia and connection through virtual grid with South Asia. There are four grids with Africa already and discussions about grid connectivity with Sri Lanka are under discussion.

The Indian Solar, Green Hydrogen Landscape

Terming the supply chain as “absolutely essential” for India, the Minister shared that the government has taken steps to give an impetus to manufacturing the solar industry. He went on to cite numbers to trace the development of solar sector. With PLI, he revealed, 8700 MW of high efficiency cells and modules have been established. In a major revelation, he further announced that the government is coming up with a big bid which will result in another 40 GW capacity.

While 20 GW of manufacturing has been achieved, another 20 to 25 GW is under construction. 55,000 MW is under installation.

When it comes to solar, India boasts of substantial volumes with 60 GW and 55 GW in the pipeline, taking up the total to 115 GW, R K told the congregation.

About the Indian Green Hydrogen market, R K Singh shared that it is already as big as 625 GW while concluding that the “Indian market is the biggest market for solar and will continue to be in the decade to come.”