India Takes Lead in Energy Transition at COP 28 with Ambitious Plans

In a thought leadership discussion held at the India Pavilion during COP 28, the Ministry of Power, in collaboration with The Central Electricity Authority (CEA) and the India Energy Storage Alliance (IESA), outlined India's pioneering efforts in advancing cost-effective energy storage systems for a seamless energy transition and the integration of renewable energy.

The session, inaugurated by Vijay Menghani, Chief Engineer, Clean Energy, commenced with a welcome address by Ghanashyam Prasad, Chairperson, CEA, Ministry of Power. 

Ghanashyam Prasad highlighted India's commitment to addressing global warming and climate change, stating that the nation has not only met but surpassed its COP 26 targets nine years ahead of the 2030 deadline. He further expressed confidence in exceeding the enhanced target set in COP 27, potentially setting new standards for COP 28.

Emphasizing the dual focus on energy security and transition, Prasad underscored India's significant strides in renewable energy adoption, with the rate of addition of renewable resources being one of the fastest globally. He acknowledged the challenge of high costs associated with Battery Storage Systems (BSS) and called for collaborative efforts among stakeholders to advance technological solutions and reduce costs.

Dr. Rahul Walawalkar, President of IESA and Moderator of the session, provided insights into policy and regulatory changes fostering energy storage opportunities in India. Chandrasekar Govindarajalu from the World Bank highlighted the bank's initiatives under ESP (Energy Storage Partnership) and the role of financing in facilitating the clean energy transition.

Manufacturing perspectives were shared by Vijayanand Samudrala, President of New Energy, Amara Raja Group, who outlined Amara Raja's plans to become a key player in advanced energy storage technologies. 

Sumant Sinha, Chairman and CEO of ReNew, offered insights from the Renewable Energy (RE) developer perspective, anticipating that RE plus storage will replace even base-load coal in the next 3-5 years.

Stephen Fernands, President of Customized Energy Solutions, provided a global perspective on energy storage adoption, drawing from his experience managing over 2GWh of energy storage in the US over the past decade.

The comprehensive discussion highlighted India's commitment to a sustainable energy future, showcasing how the nation is leading the charge in achieving COP 28 targets.