Kela said he was bullish on two themes — energy transition and carbon neutrality. “I still am very, very bullish because, after many decades, you come across a theme which is going to really last. I think carbon neutrality and climate change is a big challenge for the world, and it is not going to get solved in one or two or three years,” Kela said on Thursday.
Kela said that these topics “will play out, whether it is government, bureaucracy or business people.”
His statement comes amid the significant measures being taken by the Indian government to achieve its ambitious goal of achieving net-zero emissions by 2070. The government has a target of 500 gigawatts of renewable energy capacity by 2030, making it a leader in global carbon reduction efforts.
As India transitions towards sustainable energy, this shift will not only help mitigate climate change but also ensure long-term energy security and economic growth.
Kela also sounded hopeful about the value chain of ethanol to ENA to green chemicals. “This is again part of our carbon neutrality,” he said, adding, “We bought a transformer company, thinking that will be part of the overall carbon neutrality things.”
Singhania said that his view on oil is “very negative,” adding that climate change, renewable hydrogen and battery storage are the best things which could have happened to India.
“We are overshooting our targets. This is the first time instead of 30-35 gigawatts, we’ll start to install 50 gigawatts of wind and solar. I think the whole reliance on imported energy would just go away. And it’s not only in India, it’s globally.”
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