The International Energy Agency (IEA) has been commended by R K Singh, India’s Minister for Power and New and Renewable Energy, on its contribution to global energy analysis and the substantive progress it is making to ‘open its doors’ to emerging countries.
During a recent visit to New Delhi, Dr Fatih Birol, the IEA’s executive director focused on the increasing role of India in the global energy market, highlighting the country’s efforts in boosting electrification, rapidly improving its energy efficiency, and reducing costs of solar PV and wind power.
While delivering the Darbari Seth Memorial Lecture, Dr Birol said: “A key reason for India’s success in renewables is that supportive policy and the tendering of large projects is helping investors take advantage of economies of scale.”
“Since 2014 solar PV capacity has grown over threefold and wind has grown nearly fivefold.”
The Darbari Seth Memorial Lecture series was created by The Energy and Resources Institute (TERI) and has been held annually since 2002, the IEA explained in a statement.
Following the lecture, Dr Birol met with Minister Singh, to discuss India’s efforts to promote renewable energy deployment.
In addition, the executive director discussed global oil and gas markets with Dharmendra Pradhan, Minister for Oil and Natural Gas, and India’s efforts to promote bioenergy, and its progress on building oil stocks to improve its energy security. Read more: IEA explores global gas markets over the next five years
Dr Birol was invited to meet with Shri T S Tirumurti, Secretary of Economic Relations at India’s Ministry of External Affairs to discuss India’s growing role in global energy governance and the IEA’s efforts to “open its doors” to India and other emerging economies.
On Thursday, Dr Birol met with Amitabh Kant, CEO of NITI AAyog, to review the deepening of cooperation between IEA and India, ranging from enhancing the quality of data and statistics to policy advice to aid the building of a more flexible power system.
According to the IEA, Dr Birol and Kant pledged to work even closer on energy policy analysis.