Tuesday, April 23, 2024
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Wartsila Corporation

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In light of the recent budget announcements, our spokesperson at Wartsila – Mr. Venkatesh R., Managing Director & Director Energy Business, Wartsila, India has shared his perspective on what these announcements will mean for the energy and power sector.

Mr.Venkatesh R., Managing Director & Director Energy Business, Wartsila India Said, The Union Budget 2023 is a welcome move and continues to provide an impetus to growth, especially in the energy and power sector. Energy transition is on-going in India and the allocation of Rs. 35,000 crores for energy transition and energy security is a significant step towards the government’s goal of achieving the net zero targets. The announcement comes as India seeks to drive decarbonization and growth in sustainable energy. The recently announced Rs. 19,500 crore allocation for the National Green Hydrogen Mission will facilitate the economy’s transition to future fuels and reduce dependency on fossil fuel imports. Additionally, the support for Battery Energy Storage Systems and the interstate transmission system for evacuation and grid integration of 13-gigawatt renewable energy from Ladakh are all significant steps in the right direction that provide for upscaling the energy transition in the country.

We applaud the government for its consistent commitment and sharp focus on the important priorities of tackling climate change and accelerating energy transition.

 

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