Business & Economy

Industry must cooperate with Govt. to set up Energy Banks, says Kovind

NetIndian News Network

New Delhi, December 15, 2017

President Ram Nath Kovind yesterday urged the industrial sector to cooperate with the Government and help it set up Energy Banks to meet the increasing energy demand in the country.
The President, as the chief guest at the National Energy Conservation Day celebrations, said the Government was committed towards sustainable growth of the economy, for which, achieving the target of 24x7 Power for All was imperative.
Such a tall target can only be achieved only through the cooperation of every individual in the society and not the Government alone. The industry should hold hands with Government to set up Energy Banks to meet the increasing Energy demand in the country in the near future, he added.
Mr Kovind gave away National Energy Conservation Awards to industries that have demonstrated measurable reductions in their energy use. A short film on the Energy Efficiency achievements in the Industry Sector was also shown.
The President presented the National Painting Competition Prizes and visited an exhibition of the prize-winning paintings. This year, more than 12.2 million children (between 4th and 9th standards) from across India, participated in the National Painting Competition while 322 industrial units and establishments from key sectors participated in the National Energy Conservation Awards 2017.
On the occasion, Mr Kovind also unveiled the interactive online portal, ECO-NIWAS (Energy COnservation – New Indian Way for Affordable & Sustainable homes) for increasing awareness to build sustainable and energy efficient homes in the country.
The Energy Conservation Day is organized on 14th December each year by Bureau of Energy Efficiency (BEE), under Ministry of Power, with an aim to demonstrate India’s achievements in energy efficiency and conservation, while working for its ambition of holistic development as part of the nation’s overall effort towards climate change mitigation.
As part of its awareness outreach, BEE recognizes and encourages endeavours of industries in reducing energy consumption by felicitating them with National Energy Conservation Awards. BEE also awards prizes to the national winners of the annual National Painting Competition on Energy Conservation.
Emphasizing the importance of energy in a country’s economic growth, Minister for Power and New and Renewable Energy R. K. Singh said no country could progress without an increase in energy consumption, more so for developing countries.
India’s per capita annual energy consumption is 1100 units, which is 5 times lower than Europe and 16 times than the US. Nevertheless, the Minister reiterated the country’s commitment to reduce the energy intensity of its economic growth by one-third by 2030 and aim towards achieving a responsible growth profile.
India is well on track to surpass its renewable energy (RE) target of 175 GW by 2022 and would comfortably cross 200 GW. India’s RE capacity would be 57% of the total installed capacity by 2030, including hydropower, the Minister said.