Why India may be 'the only country that has something to show as progress at COP27,' despite its coal habit.
The country has also added a new target: It has pledged to create a"carbon sink," to absorb the equivalent of 2.5 to 3 billion metric tons of carbon dioxide by 2030, through mass-tree planting.Besides these official commitments, the Indian government also released an ambitious draft National Electricity Plan in September. The plan is a policy document released every five years that guides the power sector's expansion.
"This indicates the fact that corporates are now really embarked on their decarbonization journeys," said Sumant Sinha, founder, chairman and CEO of ReNew Power, which is developing one of the solar farms for Amazon, a 210 MW plant in Rajasthan. Solar panel arrays are seen on the rooftops of apartment buildings in Bengaluru, India, February 21, 2022.Indian entrepreneurs are also investing in medium and micro-scaled solar power projects, and the government is backing a solar energy program for the country's vast agricultural sector, paving the way for the installation of 3.75 million solar-powered irrigation pumps over the next three years.
While India's energy transition is happening at an impressive rate, it argues that abandoning fossil fuels too quickly would risk its economic development, and in a nation where so many remain mired in poverty, it can't afford that option. At least not without significant financial help from wealthier nations.
"India is the only country that has something to show as progress at COP27," said Subrahmanyam Pulipaka, CEO of the National Solar Energy Federation of India."Our renewable energy generation has not decreased but increased, even during the COVID pandemic and [Ukraine] war."
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