WEC India aims to be the foremost energy think-tank of the country and the voice of the sector. The organisation is truly representative of the Indian energy sector and contributes to advancing the energy goals of India. Its mission is to facilitate review, research and advocacy of energy technology, policy and strategy; to provide a platform for dialogue within the Indian energy sector; and to collaborate with member committees worldwide towards long term sustainable supply and use of energy. WEC India brings together high-level players in the energy sector together to forge a better understanding of energy issues towards identifying and implementing sustainable, effective solutions.
Mr Gurdeep Singh, is Chairman & Managing Director of NTPC Limited, the largest power generating company in India. Mr Singh has nearly three decades of rich and varied experience in the sector. He started his professional journey with NTPC and his career spans both Indian and Multi-national Companies such as PowerGen, CLP, IDFC, CESC and AES, Gujarat State Electricity Corporation Limited (GSECL). During his tenure as Managing Director, GSECL, he conceptualized and implemented world's first canal top solar power plant. A mechanical engineer from National Institute of Technology, Kurukshetra, India, he has obtained leadership training from IIM Ahmedabad and global institutions like Saïd Business School-Oxford, Darden School of Management-Virginia, USA, Singapore Civil Services College-Singapore.
Energy in India
Comparing 2019 and 2020 results, India’s map indicates Critical Uncertainties with high impact around Extreme Weather Risks, Middle East Dynamics and Climate Framework. The Action Priorities section continues to focus on Energy Efficiency and Renewable Energies. India Growth continues to be a priority area.
Middle East Dynamics are seen as having increased impact and uncertainty, given India’s significant oil and gas import dependence. With the Middle East as a main oil and gas supplier, developments such as US sanctions on Iran, damage to Saudi Arabian oil facilities and other geopolitical risk factors in the Middle East concern Indian energy leaders. Diversifying the import basket has been used as a strategy in response to this uncertainty.
Climate Framework & Extreme Weather Risks are also seen with greater impact and uncertainty. It stems from the fact that while the country is on track to achieve its Paris commitments, there is growing concern that global emissions have been rising and the world is not on track to meeting its climate goals. As a result, the increasing risk of extreme weather occurrences is of concern to India.
Renewable Energies. Renewables capacity, excluding large hydro, currently account for over 23% of India’s total installed capacity of over 365GW. India’s Nationally Determined Contribution (NDC) aims at achieving about 40% non-fossil power capacity by 2030. While the share of renewables in India’s energy mix is set to increase substantially, coal will continue to play a significant role.
Energy Storage is a high impact issue for the country, given its potential to improve the transport sector’s sustainability, reduce import dependence and enable integration of greater renewable capacity. Important government policies are implemented through the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India) scheme and the National Mission on Transformative Mobility and Battery Storage. Other strategies being pursued include the establishment of charging infrastructure for vehicles and the creation of giga-scale manufacturing capacities for batteries.
India Growth continues to be an Action Priority with high impact, as the country aims to be a US$5 trillion economy in the next five years. India is expected to achieve the fastest energy consumption growth rate (BP Energy Outlook 2019) to fulfil economic growth objectives. In order to sustain a high growth rate, measures include boosting the manufacturing sector, foreign direct investments and generating employment for the Indian youth.
Energy Efficiency remains a key Action Priority. The PAT (Perform, Achieve and Trade) market-based trading scheme in its rolling cycles has been expanded further to encompass new industries and sectors. In addition, the Smart Meter National Programme (SMNP) aims to replace conventional meters with smart meters across the country, while the India Cooling Action Plan (ICAP) seeks to reduce cooling demand in different sectors.
Sustainable growth is key to securing prosperity and well-being of citizens in India. The electricity sector reforms envisaged through amendments in the Electricity Act are expected to pave way for path-breaking reforms. Reducing import dependence whether it be in the conventional space or renewable is of strategic importance. As technologies converge, focus on innovation would shape every segment. The readiness of policies and regulatory framework is important. Capacity building and employment generation for its young population with sustainable growth in energy would be a top priority for the country