Lockdown constraints amid second wave of Covid-19 a downside risk for electricity demand: ICRA
Lockdown constraints amid second wave of Covid-19 a downside risk for electricity demand: ICRA
21 May 2025
Union Power, Housing, and Urban Affairs Minister Manohar Lal said that India has achieved a 90% growth in electricity capacity over the last decade, reaching 475 GW in 2025, with an ambitious goal of 900 GW by 2032. He was speaking at the BRICS Energy Ministers' Meeting in Brasília, which took place under Brazil's presidency. At the forefront of the Indian delegation, the minister emphasised that energy security represents one of the most urgent challenges and urged for enhanced cooperation within BRICS to ensure economic stability, sustainability, and fair access to energy resources.
He reiterated India's commitment to fostering a sustainable and inclusive energy future, commending Brazil's leadership under the theme 'Strengthening Global South Cooperation for More Inclusive and Sustainable Governance'. He highlighted the role of energy accessibility and affordability in supporting global development targets. Manohar Lal stated that India has emerged as the third-largest producer of solar and wind energy globally. He noted that the nation is making strides towards its Nationally Determined Contributions and has successfully reached a milestone of 20% ethanol blending.
The minister further stated that investments are being made in smart grids, advanced metering infrastructure, and green energy corridors. He emphasised India's goals for green hydrogen and nuclear energy, which include a target of achieving 100 GW of nuclear capacity by the year 2047. The minister said that India has established a national carbon credit market and expressed support for international cooperation. He also highlighted India's commitment to the Global Biofuels Alliance and domestic efficiency programmes, including the Energy Conservation Sustainable Buildings Code, rooftop solar initiatives, and appliance efficiency standards.
He stated that fossil fuels remain a significant component of the energy mix, especially in developing nations, and called for cooperation in promoting cleaner utilisation through technologies such as coal gasification, carbon capture and storage, and innovations in green chemistry. The minister extended an invitation to the BRICS nations to take part in the next BRICS Energy Gatherings, which are set to occur in 2026 in India.
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