New Delhi, October 26: Prime Minister Narendra Modi on Monday inaugurated the fourth India Energy Forum by CERAWeek. PM Modi, during his inaugural address, listed seven key drivers of India's energy map. Achieving the target of 450 GW by 2030, moving into the emerging fuels, including hydrogen and digital innovations across all energy systems are among seven key drivers listed by PM Modi. The Prime Minister said that a self-reliant India would be a force multiplier for the world economy.

PM Modi stated that India is one of the most active nations in furthering renewable source of energy. He said, "With a smaller carbon footprint, our energy sector will be growth-centric, industry-friendly and environment-conscious." He added that India's energy plans aims to ensure energy justice. Adani Green Energy Wins World's Largest Bid Worth USD 6 Billion to Develop 8 GW of Solar Projects.

PM Narendra Modi's Address:

Seven Key Drivers Listed by PM Modi Are:

  1. Accelerating our efforts to move towards a gas based economy.

  2. Cleaner use of fossil fuel, particularly petroleum and coal.

  3. Greater reliance on domestic source to drive bio-fuels.

  4. Achieving the target of 450 GW by 2030.

  5. Increasing the contribution of electricity to decarbonise mobility.

  6. Moving into the emerging fuels including hydrogen.

  7. Digital innovations across all energy systems.

PM Modi also highlighted that the country's refining capacity would increase from about 250 to 400 MMT per annum by 2025. The government is also planning to achieve "One Nation, One Gas Grid and shift towards a gas-based economy, said PM Modi. India Will Drive Global Energy Demand: PM Modi.

He stated, "India's first automated national level gas trading platform was launched in June this year. This prescribes standard procedures to discover the market price of gas. We're moving forward with a vision of Aatmanirbhar Bharat." India Energy Forum by CERAWeek will be held virtually October 26-28.

The event will convene an international group of speakers and a community of over a thousand delegates from India and over 30 countries. The speakers at the event would include Union Minister of Petroleum and Natural Gas and Minister of Steel, Dharmendra Pradhan, Abdulaziz bin Salman Al Saud, Minister of Energy, Kingdom of Saudi Arabia and Dan Brouillette, US Secretary of Energy among others.

(The above story first appeared on LatestLY on Oct 26, 2020 07:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).