India-Japan partnership critical for sustainable energy future for both nations: Goyal
New Delhi, January 9, 2017
India’s partnership with Japan in the energy sector is critical for a sustainable energy future for both nations, Union Minister of State for Power, Coal, New & Renewable Energy and Mines Piyush Goyal said today.
Presiding over the 7th India-Japan Energy Forum, 2017, Mr Goyal said this forum is a platform to engage with Japan for mutual benefit in the energy sector by working towards bringing Japanese strengths in cutting edge engineering and technology to India.
The bilateral meeting with the Japanese delegation led by Mr. Hiroshige Seko, Minister for Economy, Trade and Industry took place on the sidelines of the forum.
During the day-long sessions in the Energy Forum, there were technical discussion sessions on subjects of mutual cooperation in the energy sector, including enhancing Renewable Energy and Grid Stability, Promoting Technological Cooperation in Energy Efficiency in Industrial and Commercial Sectors and Technological Options and Energy Efficiency Improvement in Transport Sector.
Mr Goyal said cooperation with Japan would help India in enhancing grid stability, bringing electric mobility at affordable prices, which the Government was vigorously pursuing.
The Minister said Japan was informed about India’s power demand that is expected to go up fourfold in the next 15 years to become one of the largest energy markets globally. It would open immense business opportunities for Japan in the sector, making this bilateral engagement mutually beneficial for both countries.
Mr Goyal said India and Japan should cooperate on long term contracts for LNG with a defined cost of energy which would provide a stabilizing factor for the Renewable Energy thrust that India is currently giving.
Being a price sensitive market, India cannot afford costly power and hence needs Japanese cooperation in maintaining a balance between renewable energy and conventional coal based power, he added.
Since a large number of items in the renewable energy sector come from abroad, India was working towards creating a sustainable framework for encouraging the manufacturing of solar equipments in India at less costs so as to make 24x7 affordable and quality power available to each citizen. This will also give a fillip to the Make in India mission by scaling up manufacturing sector in India with the help of cutting edge Japanese technologies in the power sector.
India should leap frog the learning curve with the help of contemporary next generation technologies and should not miss out on the opportunities to provide sustainable energy future to every citizen, based on their needs, he added.