Even as India accelerates its shift to green energy, Nikhil Kamath on Wednesday said it may be an overestimation of the speed of change to greener energy sources
Taking to Twitter, Zerodha co-founder said, “we might have overestimated the speed of change to greener energy sources; traditional energy resources like coal, crude, etc., might have a good decade in the interim. Thoughts?”
Earlier during the day, Reliance Industries Chairman Mukesh Ambani said, India could become a global green energy superpower with exports of clean energy rising to $500 billion over the next 20 years.
Speaking at the Asia Economic Dialogue, Ambani said, India should have a strategy to end dependence on fossil fuels in the next two to three decades.
India is one of the most attractive destinations for renewable energy investments, Ambani said, adding that he believes the union government is extremely committed to promote green energy and is one of the most proactive in world.
Ambani has already announced plans last month to invest $75 billion in renewables infrastructure including generation plants, solar panels and electrolyzers.
India is one of the most attractive destinations for renewable energy investments, Ambani said, adding that he believes the union government is extremely committed to promote green energy and is one of the most proactive in world.
Ambani has already announced plans last month to invest $75 billion in renewables infrastructure including generation plants, solar panels and electrolyzers.
The government has recently unveiled a green hydrogen policy under which it seeks to manufacture five million tonnes of green hydrogen per annum by 2030, aiming to meet its climate targets and become a production and export hub for the fuel.
Green hydrogen — made from water and clean electricity — is seen as crucial for the world’s emissions reduction goals, helping consumers and key industries such as steel transition to lower-carbon fuels.
While Reliance hasn’t broken out how much will be devoted to hydrogen, the $75 billion investment in clean energy is by far the biggest in the country. Other companies such as Adani Enterprises Ltd. and state-run energy firms NTPC Ltd. and Indian Oil Corp. also have set plans for green hydrogen.
