Gandhinagar: Prime Minister Narendra Modi, on Saturday, said the government is making efforts to quadruple the current share of natural gas in the overall energy requirements of India.
Addressing the Eighth Convocation of the Pandit Deendayal Petroleum University (PDPU) here via video conferencing, he said the country is also working to double its oil refining capacities over the next 5 years.
Modi said massive investments are expected in the oil and gas sector in the next decade, creating fresh opportunities for energy professionals.
The government’s policy will focus on the start-up ecosystem in the area of energy security. “Our target is to reduce the carbon footprint by 30 to 35%. We are also working to develop start-ups involved to ensure India’s energy security. A special fund has already been created to incubate your idea, product, or concept,” the PM said.
Applauding India’s rapid progress in the solar energy space, Modi said that the target to achieve renewable energy generation of 175 Gigawatt (Gw) by 2022 will be achieved much before the deadline, while another landmark of 450 Gw would become a reality before 2030.
Reliance Group Chairman Mukesh Ambani, who is also President of the Board of Governors of PDPU, said that India will have to focus on its increased energy needs to sustain the economy without harming the environment.
“By the middle of the century, the world will use twice as much energy as we use today. In the next two decades, India’s own per capita energy needs will be more than twice as much as today.”
To achieve the goals of becoming a superpower and also a superpower in green and clean energy, India will need disruptive solutions in renewables, low carbon and carbon recycle technologies, he said.
Ambani emphasized the need for fresh breakthroughs in new energy sources such as green and blue hydrogen. “We need solutions and innovations in energy storage, saving, and utilization.
Altogether 2,608 students, including 467 PhDs, received their degrees and diploma certificates in the eighth convocation. In the first convocation, they numbered only 132.