In the esteemed presence of notable dignitaries, Shri Hardeep Singh Puri, the Hon’ble Minister of Petroleum & Natural Gas and Housing and Urban Affairs inaugurated the 26th Energy Technology Meet at Bharat Mandapam, New Delhi. Shri Hardeep Singh Puri spoke about the country’s achievements in the green and clean energy sector during the 26th Energy Technology Meet, shedding light on the nation’s accomplishments and its future goals.
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Exceeding Biofuel Blending Targets
Shri Hardeep Singh Puri proudly announced that India has exceeded its biofuel blending targets, a critical component of the nation’s green energy strategy. The initial goal was to achieve a 10 percent biofuel blending rate by November 2022.
Surpassing expectations, India reached this milestone five months ahead of schedule. Furthermore, the ambitious target of 20 percent biofuel blending, originally set for 2030, has now been advanced to 2025. This remarkable progress demonstrates India’s commitment to cleaner energy sources and reduced environmental impact.
Addressing Energy Challenges: Availability, Affordability, and Sustainability
In his address, Minister Puri emphasized the significance of managing three crucial challenges in the energy sector: availability, affordability, and sustainability. He highlighted that, despite these challenges, India has not allowed the issue of sustainability to hinder its progress. On the contrary, the country has accelerated its efforts towards building a more sustainable energy future.
Overcoming Self-imposed Limits
Shri Puri acknowledged that India had imposed a 20 percent blending limit on itself, mainly because automobile manufacturers claimed that blending beyond this point would require substantial engine modifications. However, India has now successfully achieved the 20 percent blended fuel and is vigorously working on the establishment of ethanol and biogas production plants.
Furthermore, the automobile industry is making significant strides in technological advancements, exemplified by the recent introduction of the Green Hydrogen Bus by India Oil. This development marks a transition towards a new technological mindset, with the introduction of electric cars and flexible-fuel vehicles.
Check Here: India Gets Its First Green Hydrogen-Run Bus That Emits Just Water
India’s Rising Energy Demand
Highlighting India’s growing energy demand, Minister Puri projected that the country’s energy requirements would serve as the driving force for future economic growth.
- Currently, India stands as the world’s third-largest consumer of oil.
- The third-largest LPG consumer.
- The fourth-largest LNG importer
- The fourth-largest refiner.
Additionally, it ranks as the fourth-largest automobile market globally. India’s energy demand is set to grow exponentially in the coming years, making the nation a pivotal player in the global energy landscape.
India’s Global Impact
Minister Puri emphasized that India is poised to account for 25 percent of global energy demand growth over the next two decades. With the launch of the Biofuels Alliance, he anticipates a substantial increase in the global biofuel market, projecting a growth from $92 billion to $200 billion in the near future.
However, he underlined that this is just the beginning of the biofuels story. The introduction of 10 percent ethanol blending has already led to significant savings on India’s import bill, and these savings are expected to increase with the 20 percent blending goal.
Energy Consumption as a Growth Indicator
The Minister stressed that a reliable indicator of a country’s growth is its energy consumption. India’s energy consumption is currently three times the global average, further emphasizing its rapid development and growth. In conclusion, he called for more collaborative events like the Energy Technology Meet, encouraging countries to participate and benefit from valuable discussions on sustainable energy solutions.
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