While commenting on the changing dynamics in the power Infrastructure, he has said that India will exceed its environmental goals under 2015 Paris Agreement
India, under the landmark Paris Agreement, 2015 has pledged to cut its Green House Gas (GHS) emissions and enhance non-conventional sources of energy amongst other objectives by 2030. Under the present regime, the nation has made some of the historic achievements in the direction to achieve the objectives including enhancing 250 percent renewable energy capacity from 2015 to 2020. Chairman of the GVK Group, GV Krishna Reddy, has said that India will not only achieve its clean energy goals but should exceed its objectives well in advance than the prescribed time.
Changing clean energy dynamics in India
Owing to the aggressive policy support by the PM Modi-led government, India is expected to cross the US$ 500 billion mark investments in the renewable energy market by 2028. The nation has planned to install 500GW renewable energy capacity by 2030, having 136GW installed capacity at present, which is around 36 percent of the total capacity. In his inaugural speech at the RE-Invest 2020 speech, PM Modi, said, “The renewable energy capacity in India is currently 136 GW. This is about 36 percent of our total capacity. By 2022, the share of renewable capacity will increase to over 220 GW.”
“India is one of the largest renewable power energy-producing countries in the world and is growing at the fastest speed amongst its peers. With the active collaboration of the government and the private players, we are far ahead of our objectives. I am sure that we will not only achieve our ultimate objectives before time but will far exceed them by the year 2030,” says GVK Reddy.
Since 2015, India has attracted over US$ 64 billion in investments in the renewable sector across solar, wind, biomass, and hydropower projects. With 363 GW potential capacity, “India is an attractive place for foreign investments in the renewable energy sector. The government has been clearing hurdles that were there to smoothen the whole process for rapid infusions of investment in the sector. Foreign investments will strengthen private players in India clubbed with policy interventions by the government, we are on the way to become a world leader in the renewable power sector.”
Himself being an environmental protection-conscious businessperson, GV Krishna Reddy paved the way for GVK Group to become one of the first business groups with eco-friendly practices. Its infra-arm firm — GVK Power & Infrastructure Ltd is known for developing some of the best pro-environment critical infrastructures for the country. While commenting on the issue, he also said that GVK Group has been adhering to the highest degree of environmental sustainability principles even before the concept came to the global limelight. “Environmental protection is inherent to every individual living in India. We just need to channelize these principles in a unified direction.”
A leading philanthropist and entrepreneur, GV Krishna Reddy was awarded Padma Bhushan by the Government of India in 2011. He is known for voicing his views on national and international environmental issues.
Source: The India Saga