Government Policies and Initiatives

🡨 Renewable Energy

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⮟ Government Policies and Initiatives
  • In accordance with the five nectar elements, the ‘Panchamrit’ of India’s climate action, the nation seeks to pursue an inclusive and sustainable growth trajectory by ensuring responsible consumption and sustainable resource management.

  • India is set to achieve energy independence through clean technology by 2047, given the push from the Make in India initiative that spans a massive renewable capacity addition.

  • The waiving of inter-state transmission system charges for inter-state sale of solar and wind power, and the declaration of a trajectory for renewable purchase obligation up to the year 2029-30 reflect significant strides towards promoting green energy.

  • Industry players are bidding for financial incentives offered by the government to expand domestic manufacturing of solar panels and improve supply chain resilience, as part of the production-linked incentive (PLI) scheme.

  • The government’s recent approval of the National Green Hydrogen Mission is a step ahead in the vision to make India a global hub for the production, utilisation, and export of Green Hydrogen and its derivatives.

  • New energy trading platforms specifically for the renewable energy market i.e., Green Term Ahead Market (GTAM) and Green Day Ahead Market (GDAM) have been introduced for selling off the power by the renewable developers in the open market without getting into long term Power Purchase Agreements (PPAs).

  • India is promoting the outreach and potential of its initiatives in the climate change and disaster risk reduction spheres as envisaged in the International Solar Alliance and Coalition for Disaster Risk Initiative projects.

  • On the domestic front, India has implemented the National Action Plan on Climate Change (NAPCC) which includes eight missions focusing on various sectors such as solar power, energy efficiency, sustainable habitats, and more.

  • Recently, the Sweden India Business Council signed a memorandum of understanding (MoU) with the Maharashtra government to collaborate on waste to energy, sustainable infrastructure and transportation, defence manufacturing, and investment.

  • The government is, also, targeting its first indigenously designed and built hydrogen train to roll out in December 2023.
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