Blitz Bureau
NEW DELHI: INDIAN industry is a key player in achieving the country’s greening targets, said Shishir Priyadarshi, President of the Adani Group. He was speaking at an event – Opportunities for IndiaEuropean Union Collaboration on Tackling Climate Change – organised by the German Embassy in New Delhi.
Citing the development of a renewable energy park by Adani Group at Khavda, he said when it reaches its peak capacity of 30 gigawatt by 2030, it will be twice the capacity of that of the world’s largest solar plant that operates in China. He added that greening India’s energy matrix will be majorly driven by the private sector but the Government needs to set the field for businesses by moving towards deregulating rules and, very importantly, by facilitating the provision of funds for these long gestation projects.
‘3-Dots’ approach
Inaugurating the event, Philipp Ackermann German Ambassador to India, asserted that climate change remains high on Europe’s agenda as it prepares for the United Nations Climate Change Conference (COP 30), which is to be held in Brazil later this year.
Focussing on opportunities for India-European Union collaboration in green investments and sustainable growth, Priyadarshi put forward a proposal for deeper collaboration based on a ‘3-Dots’ approach where the first dot referred to enhancing the usage and production of green hydrogen, and then linking the green hydrogen capacity to EU’s CBAM through which energy trade is facilitated.
The final dot, he suggested, is linking green hydrogen trade with the India-Middle East-Europe Economic Corridor, leading to a deeper energy linkage between Europe and India. Talking on the economic growth in Europe, EU Special Envoy for Climate and Environment Anthony Agotha remarked that the EU has decoupled economic growth from emissions and is determined to never revert to a Russian based fossil fuel economy.
Climate finance
On EU’s support for financing energy transitions in India, Agotha remarked that Europe remains committed to providing climate finance for developing countries to decarbonise and will lend full support to the Baku to Belém Roadmap that will be declared at the COP 30 in November.
Gerhard Schlaudraff, Deputy Special Envoy for International Climate Action, said India and the EU are two democratic spaces and they can become natural partners in transitioning towards a greener future but there needs to be in place a structured mechanism of dialogue for cooperation to sustain momentum.
