Faster energy transition will happen in the wake of global market uncertainty: Hardeep Singh Puri

“India is at the centre of global energy scenario, not only because the country has the potential for economic growth and consumer demand but also our leadership is aligned with new alternatives for energy transition. We need new alliances, institutions, and partnerships to ensure seamless, clean energy transition,” said Union Minister for Petroleum & Natural Gas Hardeep Singh Puri while speaking at The Energy Transition Dialogues organized by The Global Energy Alliance for People and Planet (GEAPP) in partnership with Observer Research Foundation (ORF) in New Delhi.

Also present at the occasion, G20 Sherpa Amitabh Kant stated, “G20 is a forum for economic growth and development and its role is to build consensus among diverse stakeholders in this direction. There is no shortage of funds in the world. The world needs long-term financial instruments like blended finance, credit enhancement, first loss guarantees etc to be able to usher in the era of energy transition.”

To solve systemic problems, we need large number of problem solvers. GEAPP, through its various initiatives is trying to create an ecosystem for entrepreneurs, innovators and MSMEs to increase the speed of change towards the growth of renewable energy solution, said Ravi Venkatesan, Chairman, GEAPP.

Following in the footsteps of the recently concluded G20 meeting, the Dialogues are focusing on six key pillars: enhancing Renewable Energy (RE) and Battery Energy Storage Systems (BESS) to achieve 50GW per annum; scaling up energy efficiency; utility modernization; decarbonisation of transport; people positive energy transition, and clean energy financing. The three-day event (1 – 3 November) will utilise multiple formats, including closed-door and public discussions, to identify collaborative pathways for consolidating existing work and creating new self-sustaining networks to accelerate the energy transition.