India Energy Week 2023: Key energy initiatives will be unveiled during India Energy Week which will be held in Bengaluru from February 6 to 8. Prime Minister Narendra Modi will inaugurate the mega G20 event, which will witness the record participation of more than 600 exhibitors from across the globe, more than 34 ministers and a number of CEOs from top energy companies.
China, United States, Russia, Brazil and various other countries are scheduled to take part in the key event. As part of his engagements, PM Modi will hold a round table discussion with top CEOs besides attending the plenary sessions. The event is taking place as part of India's G20 presidency. It is the first time India is organising such a grand event with a record number of chief executive officers from the top energy companies.
India's energy consumption is growing and the country is diversifying its energy mix, accelerating the transition to green energy.
According to International Energy Agency, India will make up 25 per cent of the global demand for energy by 2040. PM Modi, according to sources, will launch big initiatives in the energy sector while inaugurating the event next week. This includes solar power initiative of double top burner for the consumption by domestic households, which will encourage them to move towards solar energy from traditional LPG and piped gas.Use of solar energy for household consumption is expected to gain ground and will be a new addition in India's household energy consumption mix.
The country has also given thrust to LPG connections, specially in rural areas, to provide clean energy options and reduce pollution. In 2014, India had 14 crore LPG connections and over the last eight years, the country has moved at a rapid speed on domestic energy with the number of these connections more than doubling to 32 crore. Under the PM Ujjwala Yojana, over nine crore LPG connections have been provided.
Know about events to take place at India Energy Week:
Another big initiative expected to be launched during India Energy Week will be the increased blending of ethanol in fuel. It is learnt from reliable sources that PM Modi will launch E20 initiative in the upcoming event. Under the E20 programme, India aims to raise the percentage of blending ethanol in fuel to 20 per cent by 2025 even as the earlier target year was 2030, a source familiar with the development told media.
In the initial stage, the initiative will cover 13 states and 100 petrol pumps. India has saved Rs 40 lakh crore on fuel by blending 10 per cent of ethanol and money went to farmers for the production of ethanol. The initiative has environmental as well as economic benefits. India's current fuel consumption is almost 5 lakh million barrels a day which will increase to 6.5 to 7 lakh million barrels a day in a decade or so, sources said.
Ethanol blending will play a big role in reducing fuel imports and help the country move towards clean energy which is an area of focus for the government. Last year, India banned the use of single-use plastic and more such measures are expected to be announced.It is learnt that at India Energy Week, PM Modi will also launch a PET recycling initiative in which around a million polyethylene terephthalate (PET) bottles will be recycled and clothes will be produced from it.
Production of clothes under the process requires 59 per cent less energy and it has 79 per cent lower carbon footprint, a source told media. It is also learnt that clothes produced by this initiative will be provided to the Indian Army and Indian Oil petrol pump staff across the country. PM Modi will also lead a green mobility rally which will have hydrogen buses and electric vehicles.
(With PTI inputs)
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