New Delhi: The Union Minister for Power and New & Renewable Energy, Shri R. K. Singh, unveiled plans for the creation of a Centre for Energy Transition in collaboration with The Energy and Resources Institute (TERI). The announcement was made during the 23rd edition of the World Sustainable Development Summit (WSDS) held in New Delhi on February 9, 2024.
Shri Singh highlighted the strategic role of the newly proposed center, emphasizing its collaborative nature between the Government of India and TERI. The institute is envisioned to be a key player in identifying sustainable energy transition pathways and fostering innovation within the renewable energy sector.
During the summit’s session on “Energy Transitions for People, Peace, Prosperity and our Planet,” the Union Minister underscored India’s leadership in climate action and energy transition. He stated, “44% of our power generation capacity is from non-fossil-fuel sources,” showcasing the country’s remarkable progress. With 180-plus GW of the total capacity of 427 GW sourced from non-fossil-fuel sources, India is leading in renewable capacity.
Shri Singh proudly announced India’s achievement of National Determined Contributions (NDCs) ahead of schedule, positioning the nation as the only major country with energy transition actions aligned with a sub-2-degrees raise in global temperature. However, he called for a shift in the public discourse, highlighting the responsibility of developed countries for 77% of legacy carbon emissions.
The Power Minister stressed the urgency for developed nations to acknowledge the need for developing countries to access carbon space for growth. He criticized the hypocritical discourse, noting that per capita emissions of developed economies are four times the global average. Shri Singh called for a collective effort to address emissions from both coal and gas, emphasizing that energy transition should rest on the pillars of emission reduction and assisting developing nations with technology and finance.
Addressing the issue of energy storage capacity, the Minister pointed out that the lack of investment by developed countries contributes to high prices. He advocated for sustainable development based on the principles of emission reduction and providing technology and finance assistance to developing nations.
TERI Governing Council Chairperson, Shri Nitin Desai, announced the establishment of the Centre for Energy Transition in Hyderabad, emphasizing its mission to develop comprehensive energy transition pathways not only for India but also for other nations.
The Director-General of TERI, Ms. Vibha Dhawan, reiterated TERI’s commitment to sustainability and emphasized the importance of collaboration and innovation in addressing climate change challenges. The establishment of the Centre for Energy Transition marks a significant milestone in India’s pursuit of a greener and more sustainable future, showcased at the World Sustainable Development Summit 2024. The event served as a platform for impactful discussions and collaborations towards achieving sustainable development goals, with India leading the way in energy transition and environmental stewardship.