Energy transition refers to the global energy sector’s shift from fossil-based systems of energy to renewable energy sources like wind and solar. Experts point to the fact that the increasing penetration of renewable energy into the energy supply mix, the onset of electrification and improvements in energy storage are all key drivers of the energy transition.

In this context, India's leading chemical industry experts spoke at the session, ‘Leveraging Cleaner Energy Transitions’ on the sidelines of the 4th edition of Indian Chemicals Council (ICC) Sustainability Conclave held in New Delhi.

“The costs of both solar and wind have reduced drastically in some parts of the world. Similarly, the hydrogen cost is expected to come down as well. As costs continue to fall and wind and solar become mainstream, the renewable energy sector will only keep growing and solidify as a strong investment opportunity. The industry will have to be brave enough to enable the energy transition,” said Gireesh Pradhan, Former Chairman, CERC, and Former Secretary, MNRE, Government of India.

“It must start implementing the clean fuel energy initiatives. The best energy efficiency would mean a mix of biofuel, solar, wind and green renewables. To have an authentic tracking system, Indian Chemical Council (ICC) can maintain a register to record the data on daily energy consumption. Each and everybody has to contribute to this,” suggested Pradhan.

“It is not just the cost but the overall economics. 50% of our energy requirements will be fulfilled by renewable sources by 2030. Solar, biomass, wind projects are being added into it. However, fossil fuel will continue to drive the future for 10-15 years. Focus is also on e-mobility as many organizations have started reducing the dependence on ethanol,” said Rajeev Sharma, Former CMD, Power Finance Corporation who bats for open access to green energy.

“There has to be a dispatchable solution to energy supply and at BrightNight we provide the same. Making electricity completely green must be at the top of industry’s agenda. Green Energy Open Access Rules 2022 notified by the Ministry of Power are aimed at promotion of generation, purchase, and consumption of green energy including the energy from waste-to-energy plants. These rules will help in enabling faster energy transition. We have projects in Maharashtra and Rajasthan and other places to achieve the 1.2 GW target,” said Naveen Khandelwal, COO & CFO-India, BrightNight while sharing his thoughts on the decarbonization journey and fast greening of electricity.

“At LanzaTech, we have been converting carbon monoxide from waste to ethanol using our biotech processes. It uses bacteria to break down the pollutant gases which also helps in reducing the pollution to a huge extent. It is a stationary point for many industries. A lot of material in our daily lives causes emission and if we start using the greener options, it would make a big difference,” said Dr Jonathan Holladay, Vice President, Govt. Programs, LanzaTech on biotechnology - An enabler for a cleaner energy transition for chemicals.

“We have achieved zero coal usage in the year 2007 for sugar plants. We first started with power based plants which are now completely biomass based. The challenges during the transition included commissioning, sourcing, operations, and transmission. As per our cost benefit analysis, the return on investment was 20%,” said Manish Shaw, Chief Growth officer - Chemical Business, DCM Shriram Industries Limited.

Themed as ‘Boardrooms to Community- ESG, Carbon Neutrality, Operational Safety, Greener Solutions’ the two-day conclave broadly focused on the topics such as ESG in Boardrooms: Vision and Strategies for value creation; Decarbonizing the Chemical Sector: Reflections to Actions Product; Stewardship: Going beyond Regulatory Landscape; Unlocking the potential of Digital Transformation for Sustainability; Exploring Green Growth Opportunities: Solutions & Technologies; Leveraging Cleaner Energy Transitions; Safety promotes Sustainability; Embracing Net-Zero Transition: Risks & Opportunities; and Session by UNEP -Plastic Pollution: Strengthening the Role of the Industry.

Various speakers expressed their views on climate, sustainable development and the steps that could be taken in this direction. CEOs and representatives of the Indian and global chemical companies, people working in EHS dept. in companies; Central and State Government officials, Pollution Control Boards, international multilateral organizations, Global chemical industry bodies and experts from Academia and civil society organizations are participating in the event.