August 17, 2024: The Indian Institute of Management Ahmedabad (IIMA) today organised a dissemination event on the report titled “Synchronizing Energy Transitions towards Possible Net Zero for India: Affordable and Clean Energy for All” in the presence of Professor Bharat Bhasker, Director, IIMA; Dr. R. B. Grover, Member, Atomic Energy Commission of India and Emeritus Professor, Homi Bhabha National Institute (HBNI), Mumbai; Professor Amit Garg, NIIF Chair Professor in ESG, IIMA. Ms. Remya Haridasan, Sr. Scientist D, Office of PSA to the Government of India, also joined the event online.
The report, prepared by IIM Ahmedabad with Professor Amit Garg as the lead of the project team and supported by the Office of the Principal Scientific Adviser (PSA) to the Government of India and Nuclear Power Corporation of India Ltd (NPCIL), with guidance from experts from diverse sectors of power generation including coal, nuclear, solar, wind, biofuels, etc., attempts to answer key questions related to India’s energy trajectory such as: How much energy does India need to achieve a high value of Human Development Index (HDI); What are pathways to achieve this; what are the energy mix projections for this until 2070 (our declared net-zero target year); What would be the cost of electricity to the end user; what would be the carbon emissions until 2070; What would be the investments required for energy transitions towards net-zero at 2070; Estimation of other challenges and opportunities (RE integration, requirement of critical minerals, Carbon Capture Utilisation and Storage (CCUS), natural gas, ethanol, hydrogen) in energy transitions towards achieving net-zero in 2070.
Sharing insights on India’s Net Zero targets and challenges along the way, Chief Guest of the event Dr. R. B. Grover, Member of the Atomic Energy Commission of India and Emeritus Professor of HBNI said, “To achieve the target of Net Zero by 2070, we have to consider various perspectives and need policy interventions on several fronts. To be a developed country by 2047, our focus must be on ‘development-led transition’ rather than ‘transition-led development’. Meeting the twin objectives of decarbonisation and economic growth is challenging and complex for India as we have to see a growth in energy use along with transition. The balance between energy generation and consumption has to be ensured by optimal management of both supply and demand. And to provide security of energy supply, diversification of the energy mix is of prime importance.”
“The objective of this report is to bring out all these aspects for the benefit of the public and policymakers and build scenarios for an energy mix that provides affordable and clean energy for all citizens living in a well-developed India. The report also highlights the high integration costs of renewable energy and CO2 capture and storage technologies in the national grid”.
Speaking during the inaugural session, Professor Bharat Bhasker, Director, IIMA, said, “Although India’s emission level of greenhouse gases is much lesser than the developed nations, the country’s goal of achieving net zero emissions by 2070 holds significant importance as it will determine the country’s infrastructure and employment generation in the next five decades. Additionally, it positions India as a leader in the global effort to combat climate change and its impact on people and nations worldwide. This report provides deep insights on the future of Indian energy systems to keep energy affordable for the common users and simultaneously traverse a low carbon pathway for global good.”
Giving more insights about the report, Professor Amit Garg, NIIF Chair Professor at IIM Ahmedabad and leader of this report said, “The report explores India’s national pathways under different scenarios for economic growth and technology alternatives to achieve net-zero emissions to provide clean and affordable electricity to all. Renewable energy and nuclear energy have almost equal prominence in clean energy solutions for India achieving Net Zero emissions.”
This report was launched earlier on April 3, 2024, in Vigyan Bhawan Annexe, New Delhi by the Principal Scientific Adviser to the Government of India in the presence of many other senior dignitaries of the Government of India. This dissemination event marks the release of this report at IIM Ahmedabad, especially since the report has been specifically cited in the Economic Survey of India 2023-24 (Box VI.5 of “Chapter 6. Climate Change and Energy Transition: Dealing with Trade-offs”).
The report contains the projection of the energy mix in the backdrop of India’s Net Zero 2070 announcements and cleaner, affordable energy for all. The projected future energy basket for 2030, 2050, and 2070 across various growth and climate commitment scenarios have been presented in the report. The Economic Survey of India 2023-24 also cites the main conclusions of the report as below:
1. A sustainable energy transition needs the co-existence of several energy sources.
2. Coal is projected to continue until the next two decades as the backbone of the Indian energy system. Although technologies such as Carbon Dioxide Removal technologies (CDRs), such as Bioenergy with CO2 Capture & Storage (BECCS), and CCUS need to be explored to reduce the emissions from the use of coal. However, the energy penalty for deploying BECCS/CCUS at power plants would need a closer examination.
3. Renewable energy and nuclear power are expected to be the predominant sources of energy by 2070.
4. Coal phase-down will be heavily dependent on the import of critical minerals required for renewable energy and battery storage unless the country invests in the development of technologies based on domestically available mineral resources and those that enable the reuse, recovery, and recycling of critical minerals
Some more highlights from the report are:
The report can be accessed through the following link:
https://psa.gov.in/CMS/web/sites/default/files/publication/ESN%20Report-2024_New- 21032024.pdf
About IIM Ahmedabad:
The Indian Institute of Management Ahmedabad (IIMA) is a premier, global management Institute that is at the forefront of promoting excellence in the field of management education. In more than six decades of its existence, the Institute has been acknowledged for its exemplary contributions to scholarship, practice and policy through its distinctive teaching, high-quality research, nurturing future leaders, supporting industry, government, social enterprise and creating a progressive impact on society.
IIMA was founded as an innovative initiative by the Government, industry, and international academia in 1961. Since then, it has been consolidating its global footprint and today it has a network with over 80 top international institutions and a presence in Dubai. Its eminent faculty members and more than 44,000 alumni, who are at the helm of influential positions in all walks of life also contribute to its global recognition. Over the years, IIMA’s academically superior, market-driven, and socially impactful programmes, have earned high reputation and acclaim globally. It became the first Indian institution to receive international accreditation from EQUIS. The Institute is also placed first in the Government of India’s National Institutional Ranking Framework (NIRF), India Rankings 2024. The Institute has been ranked 43rd globally in the Financial Times (FT) Executive Education Rankings 2024. The renowned flagship two-year Post Graduate Programme in Management (PGP) is ranked 43rd in the FT Masters in Management Ranking 2023 and the one-year Post Graduate Programme in Management for Executives (PGPX) has been ranked 41st in the FT Global MBA rankings 2024.
IIMA offers consultancy services and more than 200 curated executive education programmes in customised, blended, and open enrolment formats for a diverse audience comprising business leaders, policymakers, industry professionals, academicians, government officials, armed forces personnel, agri- business and other niche sector specialists and entrepreneurs.
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