Ministry of Mines advances India's Critical Mineral Mission (See 'Corp Brief') India embraces global partnership in healthcare: Pharma Secy (See 'Corp Brief') CMD, SAIL reflects on resilience, transformation and future readiness at Company's 53rd AGM (See 'Corp Brief') Hindustan Copper introduces Common Uniform for all (See 'Corp Brief') CCI nod to JSW Paints to buy 75% stake in Akzo Nobel (See 'Corp Brief') IBC – If substantial assets or a new line of business is discovered which goes beyond the capacity of the PRAs or where the existing PRAs will not be able to provide value for the same, fresh Form G may be required: IBBI (See 'Legal Desk') CBDT, field offices to undertake Special Campaign 5.0 for swachhata and efficiency (See 'Corp Brief') CCI approves acquisition of Jaiprakash Associates by PNC Infratech (See 'Corp Brief') CCI allows Triumph Composites to buy entire equity of IPM & OC India into Owens-Corning (See 'Corp Brief') Reddy launches Corporate Salary Package & Enhanced Ex-Gratia for Coal India Workforce (See 'Corp Brief') Competition Act - Conduct being indulged into by OP prima facie amounting to imposition of unfair conditions upon dealers by OP in sale of decorative paints, is contravention of Sec 4(2)(a)(i): CCI (See 'Legal Desk') PM inaugurates infra projects worth Rs 40000 Crores in Bihar's Purnea (See 'Corp Brief') India positioned to become world's top automobile manufacturer: Gadkari (See 'Corp Brief') Startup India-DPIIT signs MoU with CarDekho Group to strengthen ecosystem in mobility (See 'Corp Brief') Companies Act - If sale of disputed property was done with a fraudulent intention by concealment of fact qua pending winding up petition by directors qua purchasers, then process u/s 531, 531A, 533, 536(2), 537 of Companies Act is frustrated: HC (See 'Legal Desk') Nation gears up for Swachhata Hi Seva 2025 (See 'Corp Brief') EPFO Officer selected for World Bank - Milken Institute Program (See 'Corp Brief') Centre to promote research and preserve Heritage languages and traditions (See 'Corp Brief') Competition Act - Seller's right to withhold any gains from liquidation arises only when buyer refuses to lift contracted material and did not perform his part of contractual obligations: CCI (See 'Legal Desk') 'National Agriculture Conference - Rabi Abhiyan 2025' to begin in New Delhi today (See 'Corp Brief') A country cannot feel sense of pride if own people do not speak native language: HM (See 'Corp Brief') DFS organises PSB Manthan 2025 (See 'Corp Brief') PMLA - If additional proceeds of crime are unearthed by ED during further investigation, then it can inform CBI for taking further necessary action at their end: SAFEMA (See 'Legal Desk') IICA DG highlights ESG Integration and IBC 3.0 at Corp-Con 2025 (See 'Corp Brief') Prajapati Assumes Charge as Director of All India Institute of Ayurveda (See 'Corp Brief') SEBI - Fact that transactions in particular contract were reversed with same counterparty indicates prior meeting of minds with view to execute reversal trades at pre-determined price: SEBI (See 'Legal Desk') Board to Report what's Right what's Not (See CORP EINSICHT)

Clean energy can aid India's economic recovery post-Covid-19: Report

Published: Jun 30, 2020

By TIOL News Service

NEW DELHI, JUNE 30, 2020: A new report highlights emerging challenges and opportunities for India's transition to clean mobility and power systems in the context of Covid-19

NITI Aayog and Rocky Mountain Institute (RMI) today released  Towards a Clean Energy Economy: Post-Covid-19 Opportunities for India's Energy and Mobility Sectors  report, which advocates for stimulus and recovery efforts that work towards building a clean, resilient, and least-cost energy future for India. These efforts include electric vehicle, energy storage, and renewable energy programs.

The report identifies how Covid-19 is beginning to influence the clean energy transition in India, specifically for the transport and power sectors, and recommends principles and strategic opportunities for the country's leaders to drive economic recovery and maintain momentum towards a clean energy economy.

Covid-19 has presented significant demand- and supply-side challenges for India's transport and power sectors, from liquidity constraints and supply shortages to shifts in consumer demand and preferences.

Rajiv Kumar, Vice Chairman, NITI Aayog said he is confident that India's economy will recover following the containment of the Covid-19 pandemic. "India's strong democratic institutions promote policy stability. Ongoing economic reforms, if executed well, should keep the country's growth rate ahead of peers," he said.

"Clean energy will be a major driver of India's economic recovery and international competitiveness," added Amitabh Kant, CEO, NITI Aayog. "We must look at how to leverage our domestic innovation ecosystem to bring value to the country and industry in this new normal. We have recommended specific actions by which India can revive two of our economic powerhouses—the transport and power sectors—and emerge stronger."

The report lays out four principles as a framework for policymakers and other key decision-makers considering programmes to support India's clean energy future: 1) invest in least-cost-energy solutions, 2) support resilient and secure energy systems, 3) prioritize efficiency and competitiveness, and 4) promote social and environmental equity.

"India needs to identify strategic opportunities for economic recovery in the short, medium, and long terms that can translate challenges posed by the pandemic into clean energy transition opportunities" said Anil Srivastava, Principal Consultant and Mission Director, NITI Aayog.

Opportunities in the transport sector include making public transport safe, enhancing and expanding non-motorized transport infrastructure, reducing vehicle kilometres travelled through work-from-home where possible, supporting national strategies to adopt electric vehicles in the freight and passenger segments, and making India an automotive export hub.

In the power sector, opportunities include improving the electricity distribution business and its operations, enabling renewables and distributed energy resources, and promoting energy resilience and local manufacturing of renewable energy and energy storage technologies.

"The principles and opportunities in the report can provide guidance to India's public and private sector leaders on how to evaluate and prioritize stimulus and recovery options that continue to invest in a long-term clean energy future for India," said Akshima Ghate, Director, RMI India.

"Covid-19 has disrupted the world and affected everyone's lives," said Clay Stranger, senior director, Rocky Mountain Institute. "As India looks to recovery efforts, clean energy and mobility systems can make a more resilient India by bolstering manufacturing, enhancing the reliability of electricity, avoiding costly oil imports, and cleaning the air."

The report states that India's transport sector can save 1.7 gigatonnes of cumulative carbon dioxide emissions and avoid about 600 million tonnes of oil equivalent in fuel demand by 2030 through shared, electric, and connected passenger mobility and cost-effective, clean, and optimized freight transport. Significant savings are also achievable in the power sector through the adoption of renewable energy, energy storage, efficiency, and flexible generation and demand.

TIOL CORP SEARCH

TIOL GROUP WEBSITES