New Delhi: India will require approximately $ 1.5 trillion trillion by 2030 to deal with climate change and speed up its energy transition, according to the new Deloitte report.
Climate reaction report: Use the possibility of transition in India and energy transition to the extent of the capital required across renewable energy sources, biofuels, decarbonization efforts and sustainable infrastructure to meet the country’s climate targets.
In order to achieve the goal of 500 GW of non -tacky capacity by 2030, Deloitte estimates the required investment of $ 200-250 billion, including areas such as advanced production, network integration and system extension.
From now on, the overall Indian fuel capacity on fossil fuel is 242.8 GW, which represents about half of the total installed capacity of 484.8 GW. This includes 184.62 GW of renewable energy, 49.38 GW from large water projects and 8.78 GW of nuclear energy.
The report also states that the expansion of Indian capacity of renewable energy sources must be accompanied by significant expansion of the energy storage infrastructure-the eight-time-or-what would require an estimated $ 250-300 billion in capital expenditure for FY30.
Mandates to mix ethanol, sustainable air fuel and accepting green hydrogen lead further investments of $ 75-80 billion in biofuels and $ 90-100 billion in green hydrogen, Deloitte said.
“This investment will reduce emissions, increase job creation, increase energy safety and protect vulnerable communities from climate risks. Financial tools such as green bonds, climate funds and mixed finance models are important in capital for sustainability,” Viral Thakker, partner and sustainability.
He added that unlocking investment in the scope and ensuring just access to climate financing would help build long -term resistance in the most industries of Indian climate. “India can speed up their efforts to decarbonization by strategic use of climate financing and offer huge investment potential in the sectors prepared for sustainable growth and innovation,” Thakker said.
Prashanth zero, partner, Deloitte India, said, “To speed up his climate path, India must further strengthen his obligation to integrate renewable energy, biofuels and advanced technologies into a cohesive and sustainable energy ecosystem.
He also emphasized the need to concentrate on the sectors in the climate beyond energy. “Complex strategies that harmonize infrastructure, waste management and digital transformation will be essential in creating resistant communities prepared for the future and location of India as a real pioneer in sustainable development,” he added.
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