Energy professionals from all over the world will engage in discussions on how India may improve the people-centricity, sustainability, and future-readiness of its energy transition
The India Energy Week, which will take place in Bengaluru from February 6 to 8, will see the announcement of significant energy initiatives. The major G20 event will witness the participation of over 600 exhibitors from all over the world. Hosted by the Ministry of Petroleum and Natural Gas (MoPNG), it will be officially launched by Prime Minister Narendra Modi. PM Modi is expected to announce some crucial initiatives which includes a double top burner solar power initiative for domestic usage, and a programme for recycling polyethylene terephthalate (PET) bottles that will result in the production of clothing from around one million of them. The solar power initiative will entice people to switch from standard LPG and piped gas to solar energy. The use of solar energy for domestic purposes is anticipated to grow and become a new source of household energy in India.
The PM is also likely to introduce the E20 proposal which deals with increased blending of ethanol in fuel at the upcoming meeting. Even though the initial target year was 2030, India plans to increase the percentage of ethanol blend in fuel to 20% by 2025 as part of the E20 initiative. The effort will initially encompass 13 states and 100 gas stations.
Due to the sustained efforts of the government, ethanol production capacity has seen a six times increase since 2013-14 and ethanol blending and biofuels programmes have not only augmented India's energy security but also resulted in a host of other benefits, including reduction of 318 lakh metric tonnes of CO2 emissions and foreign exchange savings of around Rs 54,000 crore, a statement said.
As a result, there has been payment of around Rs 81,800 crore towards ethanol supplies during 2014 to 2022 and transfer of more than Rs 49,000 crore to farmers, it added.
The government aims to achieve a complete 20 per cent blending of ethanol by 2025, and oil marketing companies are setting up 2G-3G ethanol plants that will facilitate the progress.
He will also be involved in several other events, including Green Mobility Rally that he will flag off to create public awareness for green fuels and inauguration of an HAL helicopter factory in Tumakuru to boost the 'Aatmanirbhar Bharat' programme in the defence sector.
The International Energy Agency predicts that by 2040, India would account for 25% of the world's energy demand. And all these initiatives are aligned with India’s vision for green energy transition and net-zero targets pledged by India at COP 26 in Glasgow in 2021.
India Energy Week is being held amidst times of geo-political tensions, soaring energy prices and threats of climate change. The first-time event which is being held under India’s G20 presidency, will feature a record-breaking participation of over 600 exhibitors from all over the world, several CEOs of prestigious energy firms and more than 34 ministries.
The event follows the theme of Growth, Collaboration.
“The conference will foster deliberations on how India can make its energy transition more people-centric, sustainable, and future-ready. This will be essential for devising ways for India, and the rest of the world, to nurture complimentary relationships between their economic growth, energy demand, net-zero targets and energy security. It will address how concurrent investments in hydrocarbons, and new and alternative energy, are essential to equitably address energy supply requirements,” explains Ranjit Rath, Chairman & Managing Director, Oil India Ltd.
Around 30,000 international energy professionals will gather in the IT city to engage and discuss the energy future of India and the rest of the globe during India Energy Week 2023 (IEW 2023) through more than 80 sessions that concentrate on energy security, affordability, and sustainability. New approaches to energy development, achieving net-zero, ways to foster technology innovation and transfer, and facilitating collaborations to provide growth are a few more topics that will be covered during conference sessions and the exhibition.
“IEW 2023 is an opportunity to nurture technological and investment partnerships that pursue a greener and energy-secure future, especially for India, a global growth engine that plays a pivotal role in the world's energy markets,” says Rath, who is one of the speakers at the event.
Some of the key themes that the conference will cover are new strategies for energy development; making energy accessible, secure, and affordable for all; paving the way for Net-zero; Technology innovation and transfer and enabling partnerships to deliver growth.
The three-day conference will feature a number of eminent speakers like Hardeep Singh Puri, Minister of Petroleum & Natural Gas and Housing & Urban Affairs, Government of India; Francesco La Camera, Director-General, International Renewable Energy Agency (IRENA); Arun Kumar Singh, Chairman, Oil and Natural Gas Corporation Limited (ONGC); Tengku Muhammad Taufik, President & Group CEO, PETRONAS; Andrew Geoffrey Barry, Vice President – Global LNG Marketing & Chairman – ExxonMobil LNG Market Development ExxonMobil Oil & Gas Company; Mariarosa Baroni, President, World Gas Mobility Council (WGMC) President, NGV Italy; Magna Mudyiwa, Deputy Minister of Energy and Power Development, Zimbabwe and many more. The conference has been organised by the Minister for Petroleum & Natural Gas