In his special address at the G20 Energy Ministers Meet in Goa yesterday, Prime Minister Narendra Modi spoke on the need for concerted efforts by nations in pursuit of inclusive, resilient, equitable and sustainable energy for all. Although every nation has a different reality and pathway for energy transition, the goals of every country are one and the same, he said.
Noting that the world looks up to the G20 group to advance sustainable, just, affordable, inclusive and clean energy transition, PM Modi stressed the importance of taking the Global South along and ensuring low-cost finance for developing countries. He emphasized finding ways to bridge technology gaps, promote energy security and work on diversifying supply chains.
He called on to strengthen collaboration on the 'fuels for the future' and remarked that the 'High-level Principles on Hydrogen' that the G20 has adopted this year are a step in the right direction. "We are working on a mission mode on green hydrogen as an alternative energy, and envision India as a global hub for the production, use and export of green hydrogen and its derivatives".
Further, Modi added that transnational grid interconnections can enhance energy security and that India is promoting this mutually beneficial cooperation model with its neighbors. "Realizing the vision of inter-connected green grids can be transforming. It will enable all of us to meet our climate goals, stimulate green investment, and create millions of green jobs", he said.
He also extended an invitation to all participating nations at the G20 event to join the Green Grids Initiative 'One Sun, One World, One Grid' of the International Solar Alliance (ISA).
Throwing light on India's efforts in green growth and energy transition, PM Modi pointed out that India, despite being the most populated nation and the fastest-growing economy in the world, is strongly moving towards its climate commitments.
"India has achieved its non-fossil installed electric capacity target nine years in advance and set a higher target for itself. We also plan to achieve 50 percent non-fossil installed capacity by 2030. We are already one among the global leaders in solar and wind power", he added.