Prashant Ruia Envisions India’s Energy Independence Through Solar Power and Electric Mobility – EQ
In Short : Prashant Ruia, Director of Essar Capital, advocates for India’s energy independence through solar power and electric mobility. Highlighting the shift to renewable energy, he stresses the importance of investments in green technologies and decarbonization. Ruia emphasizes the role of affordable funding, supportive policies, and viable green solutions to reduce fossil fuel dependency and combat climate change.
In Detail : Prashant Ruia, Director of Essar Capital, recently highlighted India’s path to energy independence, focusing on the pivotal roles of solar power and electric mobility. Ruia emphasized that renewable energy, particularly solar, holds immense potential in reducing the country’s dependency on fossil fuels. He believes that with strategic investments in green technologies, India can achieve sustainable growth while addressing climate change challenges.
He also pointed out that renewable energy sources such as solar and wind are becoming increasingly cost-effective, making them viable alternatives to traditional fossil fuels. This shift toward cleaner energy is not just necessary for environmental reasons but also economically advantageous. Ruia noted that embracing these energy sources would significantly reduce the cost of energy for industries and households alike.
Ruia stressed that accelerating the transition to renewable energy requires substantial investments in green technologies, especially in sectors like electric mobility and industrial decarbonization. These technologies need to become commercially viable for broader adoption. With an increased focus on research and development, India can lead in producing efficient, affordable renewable energy solutions that can compete with conventional energy sources.
Financial support, according to Ruia, is critical to making decarbonization both affordable and scalable. The private sector and government must collaborate to ensure that the transition to clean energy is not only feasible but also economically sustainable. Ruia emphasized the necessity for supportive infrastructure and policy initiatives from the government to encourage investment in green technologies.
Essar’s commitment to renewable energy is a clear reflection of this vision. The company plans to build 8 gigawatts of renewable power over the next five years, focusing on round-the-clock energy solutions combining solar, wind, and battery storage. These efforts aim to create a more sustainable energy ecosystem while addressing the energy needs of India’s growing economy.
Looking ahead, Ruia envisions India achieving energy independence by fully leveraging solar power and electric mobility. Through these initiatives, India could contribute significantly to global climate change mitigation efforts. The shift to renewable energy could pave the way for a more sustainable and environmentally responsible future for India, aligning with global sustainability goals.
