The schemes will display India’s prowess in energy transition.
Story so far: India Energy Week (IEW) kicked off on February 6 with 30,000 delegates, 1,000 exhibitors, 500 speakers, and 30 ministers participating in the event. PM Narendra Modi launched three green energy initiatives: the Indian Oil Corporation Ltd’s ‘Unbottled’ project, a solar cooking system, and an E20 fuel pilot.
- The Unbottled project proposes recycling Polyethylene Terephthalate (PET) bottles to make yarn for clothes for frontline workers of oil marketing companies, non-combat uniforms for the Armed Forces, and other institutions. By recycling 100 million PET bottles annually, it expects to lead the PET bottle recycling space.
- The Solar Cooking System can function on electricity in the event of insufficient solar power. Its commercial availability will increase the usage of solar energy for cooking.
- The E20 fuel pilot will see the blending of Ethanol, a naturally occurring biofuel, with petrol to reduce the latter’s consumption. It will first be introduced in 84 outlets in 11 states before a nationwide launch.
Why it matters? India’s energy agenda strives to be inclusive, market-based, and climate-sensitive. This involves intensifying local production of energy, de-carbonization, and transitioning from fossil fuels to alternative energy.
- With the IEW, the GOI hopes to spotlight energy efficiency, give impetus to biofuels and hydrogen, and expedite the shift to renewable energy.
- During the event, the prime minister pitched India’s energy sector for global investments to expand opportunities for domestic exploration and the production of traditional hydrocarbons.