We are hurtling down into an abyss—climate change, global warming, etc.—and this is something all companies will have to directly deal with, because it is the basic requirement for sustainability. In India, we’re dealing with three key elements of the energy transition:
- Energy sufficiency or energy availability
- Energy intensity—the amount of energy people utilise
- How this energy is being generated—whether through fossil fuels or sustainable sources
All three of these need to be addressed if we are to reach a situation where we don’t have to compromise the growth of this company, and where we can bring equity to all individuals and age groups who need energy to support the country’s development. Specifically, we’re looking at three aspects of how we will contribute to the energy transition: 1. Gaining competencies in critical areas and projects that will help companies and the government achieve net zero goals. This includes hydrogen, carbon capture, and biofuels—we are pushing hard to gain more competencies here. The fourth area is wind projects, particularly the auxiliary structures. We’re trying to move into spaces where our competencies align with the structural requirements of offshore substations. 2. Advocacy. We participate in many forums where these issues are debated and discussed, so that we can contribute to shaping the policies that govern this space. Most large players aren’t willing to come to India because of the current confusion around regulations—especially on biofuels and carbon capture (CCUS). By bringing clear and effective examples of what ‘good’ looks like to policymakers, we can help attract global players to India. 3. Partnerships. We’re trying to collaborate with organisations already operating in this space, to co-develop projects and bring in new competencies through these partnerships