As part of India’s efforts to meet its various Paris Accord targets, its state-owned energy company and gas pipeline operator has announced ambitious plans to develop at least 1 GW in renewable power. In addition, it will invest in developing new biogas and ethanol plants as part of its green investment plans.
Such investment in new sources of green energy has a strong business case, according to the latest Lazard's latest annual Levelized Cost of Energy Analysis reports. In fact, green sources of energy are increasing competitive as compared to coal power generation.
As part of its green plans, Gail has plans to expand its existing limited gas pipeline network from gas production centres to new markets throughout the country, reports GAIL Chairman and Managing Director Manoj.
The green power generated will come from a range of sources including solar energy, wind power, waste to power. In addition, the biogas produced will supplement the availability of cleaner fuel to automobiles and households.
Also, like Brazil, Gail plans to set up ethanol units that can convert agriculture waste or sugarcane into less polluting fuel that can be mixed with petrol, to cut India's import dependence. Currently, India imports about 85 percent of its crude oil needs.