With projections showing India as the world’s third-largest economy by 2030, the country is not just an emerging powerhouse but also a sustainable one. India has set a goal to achieve net-zero carbon emissions by 2070 and has been taking significant steps in this direction. Supporting India’s ambitious net-zero carbon emission goal, Clean Energy experts and manufacturers from over 25 countries gathered in the national capital at the India Energy Storage Week (IESW) 2023 organised by India Energy Storage Alliance (IESA).
Shri Tarun Kapoor, Advisor to PM, PMO India inaugurated IESW 2023 at Pragati Maidan in New Delhi, and addressed the need for all the sustainability and clean energy stakeholders to come together and support India in becoming a world leader in green energy transition. He mentioned that the future of energy is entirely dependent on innovations and cost-effective storage solutions. Currently, renewable energy accounts for 22-23 per cent of installed capacity, and as a country, India can take it up to 50 per cent. However, to go beyond that and even now, the country needs to invest in storage solutions for grids, which utilise high energy density and safe materials that are available in India.
He further added that the transition to electric vehicles, including four-wheelers and two-wheelers, requires large-scale storage solutions. India must be self-reliant and manufacture everything in the country, while also investing in R&D to innovate and develop products that suit its requirements and materials available in the country. India already has the production-linked incentive (PLI) scheme for battery manufacturing. There could be another phase of the PLI scheme and going forward some other support (for batteries manufacturing) if required. He expressed that manufacturing should come into India and if it does, the price will certainly go down. There is also a need to secure minerals and raw materials required for manufacturing, such as lithium. Although India currently has limited reserves of lithium, only 8 per cent of the country has been explored so far. He was confident that by exploring more, lithium and other minerals will be discovered as well.
The event witnessed the presence of eminent dignitaries and clean tech leaders including Vivek Bharadwaj, Secretary, Ministry of Mines, Vijayanand Samudrala, President – New Energy, Amararaja Batteries; Stephen Fernands, President, Customized Energy Solutions (CES); Anurag Tiwari, President – Industrial & Supply Chain, SAR Group; Nashid Chowdhury, Investment and Trade Commissioner, Government of Western Australia; Debi Prasad Dash, Executive Director, IESA, Dr. Hanif Qureshi, Joint Secretary, Department of Heavy Industries; Mayur Karmarkar, Managing Director, International Copper Association India; Dr Ashok Saraswat, Sr. VP – Battery Technology, Reliance Industries and many more.
Commenting on the event, Dr Rahul Walawalkar, President of IESA, said that India is strongly focused on clean energy transition aiming high for the growth of e-mobility as well as renewable energy. With the vision set by the Prime Minister, here is a wonderful opportunity to make India a global hub for manufacturing, R&D, and adoption of advanced energy storage, e-mobility, and green hydrogen technology within the coming decades.
Li-ion battery manufacturing is a critical aspect of the energy transition, and India has the potential to become a global leader in this sector, believes Vikramadithya Gourineni, Executive Director – New Energy Business, Amara Raja Batteries. With the right policies, investments, and collaborations, he believes that one can create a robust Li-ion battery manufacturing ecosystem that will not only support the country’s transition towards clean energy but also create employment opportunities and contribute to the economy.
Demonstrating the country’s commitment to sustainable and green solutions more than 500 world-class organisations from over 25 countries, including the UK, USA, UAE, Australia, China, Germany, Singapore, France, Italy, Israel and Sri Lanka, and 60+ CXOs from the e-mobility and green hydrogen ecosystem, 100+ start-ups, 50+ women energy leaders, and 8+ ministries participated at IESW 2023.
Emphasising the significant investment potential in the EV and energy storage sector in India, Rakesh Malhotra, SAR Group, said that India’s energy storage market is poised to grow exponentially in the coming years, driven by increasing demand for electric vehicles and renewable energy integration. As a result, it presents a massive opportunity for investors to participate in the country’s green energy revolution and contribute to its sustainable future.
IESW 2023 also witnessed the signing of various MoUs including MoU between IESA and Singapore Battery Consortium (SBC), MoU Exchange between IESA and The Electronics Sector Skills Council of India (ESSCI) and more.
The inaugural session was followed by a series of informative and insightful sessions on advanced battery manufacturing, skill development round table, CXO round table, investment round table, and startup showcase.