Sustained clean power funding over the past decade has successfully protected domestic growth from the severe fallout of the ongoing West Asia crisis. Prime Minister Narendra Modi stressed that countries must significantly reduce fossil fuel reliance to prevent future global financial turmoil. Consequently, the government is urging innovators, households, and farmers to integrate rooftop solar cooking, home-charged electric vehicles, and border-field generation to curtail imported fuel demands.
Key points
Expanding non-fossil energy infrastructure serves as a strategic shield against overseas…: Expanding non-fossil energy infrastructure serves as a strategic shield against overseas economic shocks and fossil fuel supply disruptions.
Reaching long-term renewable targets will unlock massive private investment opportunities…: Reaching long-term renewable targets will unlock massive private investment opportunities amounting to hundreds of billions of dollars by 2030.
Reducing dependence on imported fuel requires grassroots transitions, including solar-pow…: Reducing dependence on imported fuel requires grassroots transitions, including solar-powered cooking solutions, electric mobility, and decentralized agricultural power generation.
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PM Modi says clean energy investments cushioned India against West Asia crisis, sets 500GW target by 2030
NEW DELHI: PM Narendra Modi said India's economic growth has remained high despite the West Asia crisis, whose impact would have been far more serious if the country had not invested in clean energy over the past decade.Commending India's progress in renewable energy sector, he said efforts were on to add 500GW of non-fossil energy capacity over the next 10-11 years. The PM also pitched for a "clean cooking movement" to reduce dependence on imported gas.Speaking at the inauguration of Bharat Renewable Energy Summit at Bharat Mandapam Monday, Modi said the ongoing energy crisis had underlined the link between energy security and economic security, making it imperative for countries to reduce dependence on fossil fuels."This global crisis has given every country a clear message that energy security is directly linked to economic security. If we continue to remain too dependent on fossil fuels, global economy will continue to be disrupted again and again," he said.Modi said India had already achieved nearly 300GW of…
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