New Delhi [India], November 8 : Indian energy market is one of the most vibrant and uniquely positioned for the dual transformation for advancing both conventional and renewable sectors, said Vartika Shukla, Managing Director of Engineers India Limited (EIL).
Speaking exclusively with ANI, on the side lines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), she highlighted the energy shift in the country.
Vartika said, "The Indian energy market is one of the most vibrant and perhaps the only market globally where things are shaping up not just in the conventional energy space but rapidly moving towards transition."
Shukla pointed out that India is witnessing energy transition in multiple areas such as biofuels, green hydrogen, grid greening, and advancements in petrochemicals.
The opportunities in these fields has huge potential to attract investment, technology transfer, and stakeholders in the rapidly growing economy.
The global trend has seen a significant rise in clean energy investments, with close to USD 2 trillion expected this year. India has set a target of 300GW of green energy by 2030, and so far the country has achieved 200 GW capacity.
The country is on a promising path, driven by supportive policies and frameworks that encourages investment in the clean energy sector.
Underscoring the success of government's policies, she said, "The solar space is again a similar example of success, where the prices are pretty much lowest in the world in terms of the per kilowatt costs of solar energy."
EIL is committed to the oil and gas sector but is also adapting to the clean energy transition.
The company is pioneering projects like India's first second-generation bio-refinery and Sustainable Aviation Fuel (SAF) facility, as well as carbon sequestration initiatives.
"We are blending all this in our own work processes and business profile such that we are very well placed and very well balanced," Shukla said, highlighting the need for a dual focus on conventional and renewable energy to meet diverse client needs.
As energy demand surges with India's economic growth, EIL's strategic expansion in sectors like data centres and international partnerships, including work with ADNOC in Abu Dhabi, underscores its adaptability and innovation.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor