JULY 20239TOP STORYINDIA REMAINS COMMITTED TO THERMAL CAPACITY GROWTH TO FULFILL ENERGY DEMANDS: R. K. SINGHINDIA APPROVES MICRON'S $2.7 BILLION CHIP TESTING PLANT AMID PM MODI'S US VISITUnion Power & Green Energy Minister R. K. Singh said that India would not hesitate to expand its thermal power generation capacity to meet the country's growing energy requirements. Addressing a media event in New Delhi, Singh underscored the government's commitment to strike a balance among renewable energy expansion and the necessity of thermal power. He emphasized that the government has been tirelessly working on ensuring access to energy, enhancing energy efficiency, promoting energy sustainability, and ensuring energy security as the four pillars guiding India's energy sector trajectory.While acknowledging the high expenses associated with clean energy storage, Singh highlighted the government's efforts to promote the growth of Pumped Hydro Power Projects. These projects are expected to play a significant role in balancing renewable energy intermittency. "Huge capacities of Pumped Hydro projects are coming up. At the same time, we need to build batteries for grid storage. We need to have another PLI scheme for grid scale storage, so that we can augment capacity and have round-the-clock renewable energy. We will keep adding storage to ensure that demand goes up and investment keeps happening", he added. Indian cabinet has given the go-ahead for U.S. chipmaker Micron Technology to move on with its $2.7 billion plan for a semiconductor testing and packaging unit as Prime Minister Narendra Modi arrived in the United States. According to the official, who wished to remain anonymous, the cabinet has also approved production-related incentives worth 110 billion rupees ($1.34 billion) for the facility, which is planned to be built in Gujarat.Throughout Modi's current trip to the United States, an official announcement is anticipated. The source told Reuters that because the incentive package is so large, cabinet approval is required. Even though information about Micron's proposal has previously surfaced, the probable cabinet approval is an important development. Representatives from Micron and the Indian government, including the technology ministry.PM Modi is set to meet with top executives from well-known American corporations during his tour, which began on Tuesday. These companies include FedEx and MasterCard. He will also be honoured on June 22 at a state banquet held at the White House. The White House is encouraging American semiconductor makers to make investments in India, and Micron Technology's project is in line with those objectives. According to representatives of the U.S. administration, discussions on potential future investments are still ongoing.
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