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Time of India
13 hours ago
- Business
- Time of India
ET India Net Zero Forum 2025 : From railways to refineries; how India plans to hit the net zero target
New Delhi: India's transition to a net-zero economy by 2070 is witnessing multisectoral traction with renewed targets, investments, and policy alignment across transport, energy, fertilisers, and infrastructure sectors, as highlighted at the ET India Net Zero Forum 2025 . Public sector oil major ONGC has set a net zero target for Scope 1 and 2 emissions by 2038. 'We've created a 100 per cent subsidiary to drive low-carbon initiatives, aiming for 10 GW capacity by 2030. We plan to invest ₹1 lakh crore by 2030 and ₹2 lakh crore by 2035, with solar as our key focus,' said Harsh Nupur Joshi, Chief Operating Officer, ONGC Green. Joshi added that green hydrogen is a game changer but challenges around viability and offtakers remain. 'There is a need for offtakers and viability gap funding,' he said. He further noted that India's national target is achievable with the right support, while highlighting land availability and connectivity as challenges. On the fertiliser front, Hindustan Urvarak & Rasayan Managing Director S P Mohanty flagged concerns around transitioning to green ammonia. 'Hydrogen is gaining attention, but shifting to green ammonia—mainly for fertilisers—is complex. With prices tied to farmers and subsidies untouched for decades, any cost rise from green transition must be carefully managed to avoid burdening the sector,' Mohanty said. Transport sector reforms also formed a key focus. 'The encouraging shift in mobility is that states are now aligned with the national net zero goal for 2070. They're framing bold strategies with sustainability at the core,' said Sudhendu J Sinha, Programme Director (Infra Connectivity & Electric Mobility), NITI Aayog. He added that multiple ministries are working in coordination, recognising transport as part of a larger ecosystem. 'From battery waste to EV infrastructure, each is charting roadmaps and milestones,' he said. On the freight and logistics side, Rail Vikas Nigam Ltd's Director (Operations) MP Singh noted that Indian Railways is set to achieve 100 per cent electrification in FY26. 'With the shift from coal-based power to renewables, coal transport—which makes up about 70 per cent of India's rail freight—is set to decline,' Singh said. 'Railways is preparing policies to offset this by attracting other traffic like container cargo, vehicle transport, and direct freight from production centres.' He also said that Indian Railways is exploring small modular nuclear reactors as an additional energy source. From the R&D perspective, IndianOil's Executive Director (R&D) Umish Srivastva stressed the importance of localising technologies. 'While solutions exist, we need to adopt and indigenise them. Whether it's electric mobility or green hydrogen, we must reduce import dependence. Even today, components for electrolyzers largely come from abroad,' he said. 'To truly reach net zero, we need focused R&D and self-reliant tech ecosystems.' Commenting on the role of the power sector, Laxit Awla, CEO of SAEL Industries, said, 'The power sector is key to India's net zero journey. To meet our growing consumption needs, we need a more resilient system—by cutting inefficiencies, strengthening grid connectivity, and addressing challenges like land and transmission access.' UG Sujatha, Vice President at Invest India, highlighted investor interest in green infrastructure. 'Renewables lead foreign investment, driven by strong policies and local industry growth. EVs follow, with investments tripling year-on-year. Green hydrogen is rising with global support, and green data centres are set to grow 70–80 per cent by 2027, drawing $100 billion in investments.' The panel discussion titled India's Net Zero by 2070 Ambition: A Status Check on Policy, Funding and Tech Innovation saw participation from government, industry, and financial leaders, and underlined the complexity and opportunities in India's decarbonisation efforts.
Time of India
25-04-2025
- Business
- Time of India
ONGC plans Rs 3500 crore green energy capacity push
Oil and Natural Gas Corporation (ONGC) plans to spend up to ₹3,500 crore in this financial year on adding green energy generation capacity as it pursues its goal of 10 GW by 2030, said its finance chief. #Pahalgam Terrorist Attack India pulled the plug on IWT when Pakistanis are fighting over water What makes this India-Pakistan standoff more dangerous than past ones The problem of Pakistan couldn't have come at a worse time for D-St A large share of the green budget this year will go into setting up 1 GW of renewable projects, with the capacity split equally between solar and wind, Vivek Chandrakant Tongaonkar, director (finance), ONGC, told ET. The company is also looking for acquisitions, he said. "We have a target of 10 GW by 2030, which we think we should be in a position to comfortably reach," Tongaonkar said. ONGC NTPC Green Pvt Ltd (ONGPL), an equal joint venture between ONGC Green and NTPC Green, acquired full ownership of renewable energy platform Ayana Renewable Power for ₹6,248 crore last month. Ayana Renewable Power has a portfolio of 2.1 GW of operational and 2 GW of under-construction assets. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Co-Founder of Google Brain, Andrew Ng, Is Reported To Have Read Every... Blinkist: Andrew Ng's Reading List Undo Last month, ONGC Green also completed the acquisition of PTC Energy for ₹925 crore. PTC Energy has a wind generation capacity of 288 MW. ONGC aims to spend another ₹35,000 crore on its core exploration and production (E&P) business in this fiscal, Tongaonkar said. The annual capital expenditure on E&P is likely to rise over the next few years if large discoveries are made and developed, he said, adding that the annual capex could rise to as much as ₹45,000 crore in 2028-29. With an aim to boost oil and gas production, ONGC has won several exploration blocks in the bidding rounds in recent years. "We are conscious of the fact that we need to make more capex in future," he said, adding that the company continues to manage its cash flows in a way that it is able to meet its current and future spending requirements while rewarding its shareholders. Live Events
