2 days ago
- Business
- New Indian Express
Rising US tariffs, demand for renewables a big opportunity for southern states: Ampin Energy CEO
BENGALURU: The increasing demand for power, especially renewable energy and the high tariffs being imposed by the United States have come as an opportunity for the Indian energy sector especially for the southern states, which have the highest potential, to quickly grab, said Pinaki Bhattacharyya, Founder, Managing Director and CEO, Ampin Energy Transition Private Limited.
Speaking to the media at the sidelines of the day-long seminar on Renewable Energy Transition for Commercial and Industrial Consumers in the Southern Region, he said the cells, modules, solar and wind panels were manufactured in India, but were being exported to other countries, leaving the demands inside the country dry. Now the relations of India with its neighbouring countries are not good and the tariff revisions imposed will help improve the production and costing for the Indian market. This will only strengthen India's energy sector in the coming times, he said.
The Union government has set a net-zero target by 2070 and 500 gigawatt of renewable energy (RE) generation by 2030, of this 200 giga watt is being generated and to meet the target at least 50 gigawatt needs to be generated year-on-year. Karnataka has also set a target of increasing its RE generation from the existing 24 gigawatt to 38 gigawatt in the next five years.
