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    To Get Net Zero By 2070, India Needs To Invest $20 Trillion

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    German Chancellor Says Growing Nuclear Power May Make Sense

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    With USD 226bn, Global Renewables Funding Sets A New H1 High

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    Germany Wins EU Approval For EUR 2.98bn Green Heating Plan

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    African Nations Anticipate Increasing Fossil Fuel Output

    EGing to invest over US$144 million in major manufacturing upgrades and relocation

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    2022 Will See A 3.4% Increase In Electricity Demand In APAC

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    Black Power- German Fossil Fuel Plans Encounter Obstacles

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    Cluster of Businesses Want The EU To Improve Energy Security

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    Central American Development Bank commits $800 million toward the fuel relief effort

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    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

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    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Italy’s Innovatec targets EUR 100m in revenue from new solar business

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

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    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

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    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

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    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

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    Global Coal-Fired Electricity Making Hits New Peak In 2021

    Global Coal-Fired Electricity Making Hits New Peak In 2021

    To Get Net Zero By 2070, India Needs To Invest $20 Trillion

    To Get Net Zero By 2070, India Needs To Invest $20 Trillion

    German Chancellor Says Growing Nuclear Power May Make Sense

    German Chancellor Says Growing Nuclear Power May Make Sense

    With USD 226bn, Global Renewables Funding Sets A New H1 High

    With USD 226bn, Global Renewables Funding Sets A New H1 High

    Germany Wins EU Approval For EUR 2.98bn Green Heating Plan

    Germany Wins EU Approval For EUR 2.98bn Green Heating Plan

    African Nations Anticipate Increasing Fossil Fuel Output

    African Nations Anticipate Increasing Fossil Fuel Output

    EGing to invest over US$144 million in major manufacturing upgrades and relocation

    Trade Wars Cause A 55% Drop In U.S. Clean Energy Projects

    2022 Will See A 3.4% Increase In Electricity Demand In APAC

    2022 Will See A 3.4% Increase In Electricity Demand In APAC

    Black Power- German Fossil Fuel Plans Encounter Obstacles

    Black Power- German Fossil Fuel Plans Encounter Obstacles

  • Market Moves
    Refiners Should Not Be Making Above Normal Profits- Biden

    Refiners Should Not Be Making Above Normal Profits- Biden

    Cluster of Businesses Want The EU To Improve Energy Security

    Cluster of Businesses Want The EU To Improve Energy Security

    Enel plans to expand power distribution business into US

    In A Move To Avert Blackouts Australia Halts Power Market

    Central American Development Bank commits $800 million toward the fuel relief effort

    Central American Development Bank commits $800 million toward the fuel relief effort

    A New 500-MW Supercritical Coal-Fired Power Plant Going into Operationa in Philippines

    EU Reduces Plans of Fossil-Fueled Electricity By One-Third

    BP to invest up to £18 billion in UK energy system by 2030

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Italy's Innovatec targets EUR 100m in revenue from new solar business

    Italy’s Innovatec targets EUR 100m in revenue from new solar business

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    Abengoa completes construction of three solar fields at the world’s largest concentrated solar power complex in Dubai

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To Get Net Zero By 2070, India Needs To Invest $20 Trillion

in News, Renewable Power
To Get Net Zero By 2070, India Needs To Invest $20 Trillion

In order to achieve its ambitious target of reaching net zero by 2070, India will need to invest $20 trillion in capital projects, according to a new estimate. According to a report by research firm UBS, they devised an in-house India Energy model identifying needs for solar, batteries, and hydrogen to estimate the total capex needed to attain net zero, which they estimate at $20 trillion over the next 50 years.

Since India promised last year to attain net-zero carbon emissions by 2070, investors have fought about the consequences for global commodities considering that the country is one of the top five importers of coal, LNG, and oil.

During that time, they anticipate India to increase its solar energy production and stop importing 3% of the current world demand for coal and oil by a factor of 100. According to the report, by 2040, global trade flows and supply chains would have changed to suit India’s shift from being a net energy importer to a net exporter of renewable resources. By 2070, India’s primary energy consumption is projected to nearly double, with renewables providing 72% of the country’s total energy needs, up from 1% in 2019, followed by bioenergy and green hydrogen at 9% each.

To achieve this, they project $20 trillion in capital expenditures, or 1.2% of GDP over the period—led primarily by private investment.

However, India’s reliance on fossil fuels will increase over the short to medium term, spiking around 2040, further challenging the fundamentals of the worldwide energy transition, said the paper.

Significantly, it is anticipated that India will surpass China as the world’s largest oil growth market during this period. This would result in prolonged pressure on India’s import costs and a current account deficit that would last at least until 2045.

While India’s entry into solar PV and battery manufacturing is different from China’s, the report notes that past experience, for instance, in the execution of 4G, suggests that streamlining is possible, supposing supportive government policies, incentives, and large corporations endorse the transition. This is in reference to whether India can accomplish self-sufficiency in solar cells, batteries, and electrolyzers. According to the paper, India’s 265 GW/1000 GW of renewable deployments and 600/7400 GWh of battery additions by 2030/40E might boost domestic manufacturers. By 2040, utilities and OEMs in India are expected to invest $2 trillion.

By 2030, India can create 190 GWh of batteries annually and 80 GW of solar PV, placing it among the top three manufacturers worldwide. In the following decades, if the nation’s goal of solar PV production capacity is attained, it may shift its economic priorities from being a net importer to becoming an exporter.

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