India Energy Week 2023Major energy initiatives will be unveiled during the India Energy Week, which will be held in Bengaluru from February 6 to 8. Prime Minister Narendra Modi will inaugurate the mega G20 event, which will see a record participation of over 600 exhibitors from across the globe. Over 34 ministers and several CEOs of top energy companies.
China, USA, Russia, Brazil and many other countries are going to participate in this important event. As part of his engagements, PM Modi will hold a roundtable discussion with top CEOs apart from participating in the plenary session. The event is being held as part of India’s G20 Presidency. This is the first time that India is hosting such a grand event with a record number of CEOs from top energy companies.
India’s energy consumption is on the rise and the country is diversifying its energy mix, accelerating the transition to green energy.
According to the International Energy Agency, India will account for 25 percent of global energy demand by 2040. According to sources, PM Modi will take major initiatives in the energy sector while inaugurating the program next week. This includes solar power initiative of double top burner for consumption by domestic households, which will encourage them to move from conventional LPG and piped gas to solar power. The use of solar power for domestic consumption is expected to increase and will be a new addition. In India’s household energy consumption mix.
The country has also emphasized on LPG connections, especially in rural areas, to provide clean energy options and reduce pollution. In 2014, India had 140 million LPG connections and in the last eight years, the country has moved at a rapid pace on domestic energy, with the number of these connections more than doubling to 320 million. More than nine crore LPG connections have been given under PM Ujjwala Yojana.
Know about the programs to be held in India Energy Week,
Another major initiative to be launched during the India Energy Week will be to increase the blending of ethanol in the fuel. It has been learned from reliable sources that PM Modi will launch the E20 initiative at the upcoming event. A source familiar with the development told the media that under the E20 programme, India aims to increase the percentage of ethanol blending in fuel to 20 per cent by 2025, as against the earlier target of 2030.
In the initial phase, the initiative will cover 13 states and 100 petrol pumps. India has saved Rs 40 lakh crore on fuel by blending 10 per cent ethanol and farmers have been given money to produce ethanol. This initiative has environmental as well as economic benefits. Sources said that India’s current fuel consumption is around 5 lakh million barrels per day which will increase to 6.5 to 7 lakh million barrels per day in a decade.
Ethanol blending will play a big role in reducing fuel imports and help the country move towards clean energy which is an area of focus for the government. Last year, India banned the use of single-use plastic and more such measures are expected to be announced. It is learned that at the India Energy Week, PM Modi will also launch a PET recycling initiative, involving around one million polyethylene terephthalate (PET). Clothes will be made from recycled bottles.
A source told the media that the process requires 59 percent less energy to produce the clothing and has a 79 percent lower carbon footprint. It is also learned that the clothes produced from this initiative will be provided to the Indian Army and Indian Oil petrol pump employees across the country. PM Modi will also lead a green mobility rally featuring hydrogen buses and electric vehicles.
(With PTI inputs)
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