New Delhi: Union Power Minister RK Singh said India is a global leader in energy transition and climate action. He also countered what he calls "misleading" narratives propagated by "some NGOs in the developed world."
Speaking at the NDTV Decoding G20 Conclave, he addressed the need to discuss energy consumption in per capita terms and highlighted the "hypocrisy" of developed nations in the climate discourse.
Singh underscored the importance of evaluating emissions on a per capita basis, asserting that the size of a country should not solely determine its emissions. He compared emissions to GDP, stating, "The narrative has to change." He also pointed out that India's per capita emissions stand at 2.19 tonnes per year, significantly lower than the world average of 6.4 tonnes per year.
During the interview, the Minister For Power, New and Renewable Energy, revealed India's commitment to surpass its climate targets. He claimed that the country will exceed its pledge to have 50% of its power capacity sourced from non-fossil fuel options by 2030, reaching a remarkable 65%. This commitment was initially made at COP26 in 2021.
He also discussed challenges related to renewable energy, particularly storage costs. He highlighted the disparity between renewable energy costs and storage expenses, citing an example where storing energy at Rs 10 per kilowatt-hour (kWh) alongside a renewable energy cost of Rs 2.6 per kWh results in a total cost of Rs 12.6 per unit. He emphasised that greater emphasis on storage by the developed world could have averted such discrepancies.
Speaking about India's achievements in the renewable energy sector, Singh celebrated the country's rapid transition rate and capacity addition, achieved without compromising the electricity supply for growth. He also highlighted India's alignment with climate goals, stating, "We have, at the same time, emerged as the only country whose energy transition actions are commensurate with a sub-2-degree rise in global temperature."
The minister also addressed the growth trajectory of the Indian economy and its relationship with energy consumption. He asserted that while India's economy grows at 7%, renewable energy capacity is expanding even faster. He advocated for a change in narrative, maintaining that India will meet its energy requirements for growth while also highlighting the "amazing" hypocrisy of developed nations in the climate arena.