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Renewable Energy is Key to Energy Security: PiyushGoyal

Renewable Energy is Key to Energy Security: PiyushGoyal

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Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, PiyushGoyal, addressed a distinguished gathering of industry stalwarts from energy sector at a media event, ‘Energy Conclave, 2016 – Securing India’s Green Future’. The Minister noted that India has its own developmental imperatives in the near future, hence it can’t shun the use of fossil fuels completely from its energy basket. It is important to strike a balance between the conventional & renewable sources of energy and rapid societal development & environmental concerns, he added.

Goyal expressed happiness to see renewable energy taking centre stage in discussions on power sector recently. He noted that it is of prime importance to achieve the goal of ‘One Nation, One Grid, One Price’ at the earliest and create a robust transmission grid network where affordable power is seamlessly available to the common man throughout the nation, at one price. The Minister pointed out that the government after taking charge has made the solar power target five times to 100 GW by 2022. He informed the gathering that by consistent efforts made by the Government the prices of solar energy have come down by 40 percent in just 18 months. Moreover, concentrating on other sources of renewable energy, this year has been dedicated to hydro and wind energy and talks with international gas suppliers are on, he added. Quoting the example of large hydro power projects like Teesta and Subansiri, Goyal expressed concern that these projects have been experiencing severe time and cost overruns in the past due to various issues. He informed that the Government is taking all the required steps to fast track the operationalising of these projects at the earliest so that investors, both global and domestic, may not receive a negative signal on the prospects of investing in the hydro power sector. The Minister informed that the Ministry is collaborating with IITs and research labs abroad to develop state-of-the-art technologies like clean coal technology, carbon capture and  use, coal to gas & coal bed methane technologies, inter alia.

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