The COP26 has shown the way to the private sector in terms of opportunities and the road ahead for energy transformation. The Indian government has also made some bold commitments at COP26 and the most important commitment that the Prime Minister Narendra Modi made was achieving net-zero emissions by 2070. How does the private sector look at this as an opportunity?
Claudio Facchin, CEO, Hitachi Energy and Venu Nuguri, MD and CEO, India and South Asia, Hitachi Energy shared Hitachi Energy’s sustainability 2030 plan and much more about energy transformation India.
Hitachi Energy, the company, which has been in India for almost 60 years and has 16 manufacturing units.
“It is an ambitious plan across whether it is 2070, 2050, decarbonizing reaching at zero, meeting also very ambitious targets between now and 2030, which is even more important to show that we move from plan to execution and deliver the scale and the speed that is needed to achieve those targets,” said Facchin.
“In this energy transition, the key takeaway is that there is no debate about why and what – there was a very strong alignment and convention around what needs to be done for this clean energy transition to deliver the decarbonization. It is more about how do we work collectively to plan so that we can deliver the scale, the speed that is required,” he added.
When asked about Hitachi Energy’s 2030 plan, Facchin replied, “We introduced that plan earlier this year and as we create Hitachi Energy as new entity carving out the power grid’s business from ABB, creating a joint venture with Hitachi - that is owned 80 percent by Hitachi and 20 percent by ABB – we saw ourselves as a key player to support this clean energy transition,” he said.
“The whole energy transmission is becoming a much bigger piece. It is not that only one individual or one company can do but it is all collaborating together where we want our partnership also to come,” said Nuguri.
For the entire discussion, watch the accompanying video.