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He said solar power and electric mobility will propel India towards energy independence.“>
India has the opportunity to become self-sufficient in energy for the first time in its history, said Prashant Ruia, chief executive, Essar Group. He said solar power and electric mobility will propel India towards energy independence.
“For 50 years, we have been big importers of oil and gas, and 85% of our energy is imported. For the first time, because of abundance of wind and sun in India and because of technology, we have an ability to generate our own energy at a very low cost,” said Ruia at the event. He was responding to questions on the US’ perceived shift to fossil fuels under the Trump administration.
Ruia said energy transition in India is possible due to inherent cost advantages. He said his group was creating new businesses linked to the energy transition goals of the country.
“In Europe, they don’t have access to low-cost energy. It is a huge disadvantage and their solutions like hydrogen, blue hydrogen, nuclear and offshore wind are more expensive, and because of that, they need subsidies to assist those net-zero targets. We are not in same position. We are blessed to have access to low-cost energy which does not require a significant amount of subsidies or any subsidy at all.” “,”next_sibling”:[{“msid”:118319760,”title”:”Tata Motors’ stock offers value despite uncertainties: Sandip Sabharwal”,”entity_type”:”ARTICLE”,”link”:”/news/industry/tata-motors-stock-offers-value-despite-uncertainties-sandip-sabharwal/118319760″,”link_next_mobile”:”/news/industry/tata-motors-stock-offers-value-despite-uncertainties-sandip-sabharwal/118319760?next=1″,”category_name”:null,”category_name_seo”:”industry”}],”related_content”:[],”seoschemas”:false,”social_share”:{“fb”:”/news/industry/indias-path-to-energy-independence-harnessing-solar-power-and-electric-mobility-says-prashant-ruia/118323534?utm_source=facebook&utm_medium={{DEVICE_TYPE}}”,”x”:”/news/industry/indias-path-to-energy-independence-harnessing-solar-power-and-electric-mobility-says-prashant-ruia/118323534?utm_source=twitter&utm_medium={{DEVICE_TYPE}}”,”whatsapp”:”/news/industry/indias-path-to-energy-independence-harnessing-solar-power-and-electric-mobility-says-prashant-ruia/118323534?utm_source=wapp&utm_medium={{DEVICE_TYPE}}”,”linkdin”:”/news/industry/indias-path-to-energy-independence-harnessing-solar-power-and-electric-mobility-says-prashant-ruia/118323534?utm_source=linkedin&utm_medium={{DEVICE_TYPE}}”,”telegram”:”/news/industry/indias-path-to-energy-independence-harnessing-solar-power-and-electric-mobility-says-prashant-ruia/118323534?utm_source=telegram&utm_medium={{DEVICE_TYPE}}”,”copy”:”/news/industry/indias-path-to-energy-independence-harnessing-solar-power-and-electric-mobility-says-prashant-ruia/118323534?utm_source=copy&utm_medium={{DEVICE_TYPE}}”},”cat_msid”:25384693,”cat_sub_msid”:false,”msid”:118323534,”entity_type”:”ARTICLE”,”title”:”India’s path to energy independence: Harnessing solar power and electric mobility, says Prashant Ruia”,”synopsis”:”Ruia said energy transition in India is possible due to inherent cost advantages.”,”titleseo”:”industry/indias-path-to-energy-independence-harnessing-solar-power-and-electric-mobility-says-prashant-ruia”,”status”:”ACTIVE”,”authors”:[],”Alttitle”:{“minfo”:””},”artag”:”ET Bureau”,”artdate”:”2025-02-17 12:58:16″,”lastupd”:”2025-02-17 12:58:18″,”breadcrumbTags”:[“electric mobility India”,”solar power India”,”India energy self-sufficiency”,”energy independence”,”energy transition India”,”cheap energy India”,”renewable energy sources”,”Essar Group”,”wind energy potential India”,”US fossil fuels shift”],”secinfo”:{“seolocation”:”industry/indias-path-to-energy-independence-harnessing-solar-power-and-electric-mobility-says-prashant-ruia”}}” data-authors=”[” data-author-list data-category-name=”Industry” data-category_id=”23″ data-cat_msid=”25384693″ data-date=”2025-02-17″ data-index=”article_1″ data-keywords=”electric mobility India, solar power India, India energy self-sufficiency, energy independence, energy transition India, cheap energy India, renewable energy sources, Essar Group, wind energy potential India, US fossil fuels shift” data-type=”news”>
Ruia said energy transition in India is possible due to inherent cost advantages.
- Updated On Feb 17, 2025 at 12:58 PM IST
He said solar power and electric mobility will propel India towards energy independence.“>
India has the opportunity to become self-sufficient in energy for the first time in its history, said Prashant Ruia, chief executive, Essar Group. He said solar power and electric mobility will propel India towards energy independence.
“For 50 years, we have been big importers of oil and gas, and 85% of our energy is imported. For the first time, because of abundance of wind and sun in India and because of technology, we have an ability to generate our own energy at a very low cost,” said Ruia at the event. He was responding to questions on the US’ perceived shift to fossil fuels under the Trump administration.
Ruia said energy transition in India is possible due to inherent cost advantages. He said his group was creating new businesses linked to the energy transition goals of the country.
“In Europe, they don’t have access to low-cost energy. It is a huge disadvantage and their solutions like hydrogen, blue hydrogen, nuclear and offshore wind are more expensive, and because of that, they need subsidies to assist those net-zero targets. We are not in same position. We are blessed to have access to low-cost energy which does not require a significant amount of subsidies or any subsidy at all.”
- Published On Feb 17, 2025 at 12:58 PM IST
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