Page 17 - CIJ Dec 2023 - Digital Edition

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India Aims to Triple Renewable Energy Capacity by 2030

ndia is on track to significantly have supported the commitment to According to the IEA’s Net Zero
expand its renewable energy triple renewable energy capacity. Emissions by 2050 Scenario, India
capacity, aiming to more than triple The G20 nations, under India’s needs to generate around 32% of its
Iit by 2030, as outlined in the 14th presidency, have endorsed this target, electricity from solar and 10% from
National Electricity Plan (NEP). This and the UAE, as the host of the wind by 2030. This would require the
ambitious target is part of a global upcoming UN climate conference, is country to add an additional 115 GW
commitment to increase renewable advocating for a global agreement on of solar and 9 GW of wind capacity,
energy capacity and improve this at COP28. bringing the total renewable capacity to
energy efficiency to limit global 448 GW of solar and 122 GW of wind.
warming. However, the country faces India’s current renewable energy Financial challenges, including
substantial financial challenges in target is to achieve 500 GW of payment delays and unfavourable
achieving this goal, with an estimated installed electricity capacity from rules and regulations, have been
investment need of USD 293 billion. non-fossil fuel sources by 2030. To identified as deterrents to attracting
The International Energy Agency meet the NEP14 targets and align the necessary investment. The
(IEA) has highlighted the urgency of with the IEA’s proposed net-zero financial requirements to achieve
global action in this regard. Over 60 scenario, India requires an additional both the NEP14 target and the IEA
countries, including major economies USD 101 billion for renewable net-zero scenario exceed the current
like the United States, the European energy generation, storage, and investment and funding capacities
Union, and the United Arab Emirates, transmission capacity addition. available in India.

India’s Bioeconomy Sees Twelvefold Increase in a Decade

nion Minister Dr. Jitendra NIPGR as a monument of excellence, Department of Biotechnology’s
Singh, overseeing Science contributing to India’s health, support for R&D innovations in
& Technology, announced a nutrition, and food security. He advanced biofuels and ‘Waste to
Usignificant growth in India’s called for greater integration of Energy’ technologies. He emphasised
bioeconomy, recording a twelvefold science institutes and industry biotechnology’s role in creating
increase over the past ten years. linkages to maximize the use of new a clean, green environment and
This achievement was highlighted technologies and sustain research and its potential to generate lucrative
during the Silver Jubilee celebrations development, startups, and livelihood livelihood sources and alternatives to
of the National Institute of Plant opportunities. petrochemical-based manufacturing.
Genome Research (NIPGR) in New Highlighting the biotech sector’s Dr. Singh concluded by
Delhi, where Dr. Singh inaugurated expansion, Dr. Singh pointed out the acknowledging NIPGR’s contributions
the ‘National Plant Computational increase in biotech startups in India, over the last 25 years in innovations,
Biology & Bioinformatics Facility’. from 50 in 2014 to 6,000 in 2023. He patents, and plant varieties supporting
The Minister attributed this growth remarked on the sector’s potential India’s food basket. He expressed
to the conducive policy environment to provide viable technological confidence that NIPGR would
established under Prime Minister solutions and its role in positioning continue to play a vital role in
Narendra Modi’s leadership. He India among the top 5 global bio- addressing global food security
noted that India’s bioeconomy, which manufacturing hubs by 2025. challenges in the next 25 years,
was approximately $10 billion a The Minister also noted the particularly during the Amrit Kaal.
decade ago, has now reached $120
billion and is projected to exceed
$300 billion by 2030.
At the event, Dr. Singh also
announced the release of ‘ADVIKA’,
a new drought-tolerant and climate-
smart chickpea variety. This
development is significant as India
produces 74% of the global chickpea
output, presenting an opportunity for
increased foreign exchange earnings.
Emphasising the importance
of scientific institutes in national
development, Dr. Singh praised CIJ

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