According to reports, government should pursue uniform policies to increase the contribution of renewable power sources in the country’s energy basket, Union Minister Farooq Abdullah said today.
Abdullah, who holds the New and Renewable Energy portfolio, also said that state governments and the Centre need to work together and evolve policies jointly.
According to him, an integrated approach as well as uniform policies are required to increase the share of renewables in the country’s energy basket.
Emphasising that domestic industry needs to be protected, he said: “Banks will need to come forward and reduce interest rates even as the industry needs to innovate and develop better products”.
Renewable sources account for about 29,500 of the country’s total installed power generation capacity of over 2.34 lakh MW, at the end of January. This figure for renewables excludes hydro projects.
Planning Commission Deputy Chairman Montek Singh Ahluwalia said the global debate has moved on to sustainable solutions.
“… Almost 30 per cent of the fossil fuel reserves should never be utilised if sustainable energy scenarios are to be evolved,” he said.
Abdullah and Ahluwalia were participating at an event organised by Planning Commission and industry body CII to launch India Energy Security Scenario (IESS) 2047 — a tool that would help stakeholders in adopting optimal option to meet energy needs.
The tool was developed by the Planning Commission in consultation with key stakeholders including the UK Department of Energy and Climate Change, TERI, C-Step and Prayas Energy.