There is a need to update the traditional energy scheme amid the quest for the transition towards renewable energy sources, said Sanil C. Namboodiripad, Managing Director, of ONGC Tripura Power Company Ltd (OTPC).
Speaking at the third edition of OTPC’s annual thought leadership conclave, ‘Milaap’, the MD noted that the electricity sector is undergoing a drastic change, and across the world, countries are trying to reduce their dependence on coal and other fossil fuels. “Large installations of renewable energy in solar and wind power are coming up.
People have realized the problems with climate change and there is a cry for a sustainable world," he said.
Namboodiripad was also of the view that the Russia-Ukraine conflict has led to a surge in energy and electricity prices in Europe, which has created a sense of urgency among countries to become self-reliant in terms of energy. “India is lucky to have so much potential in RE sources and the government has been setting very stiff targets for implementation of RE," he said. “When we move away from traditional sources of power to renewable sources, the traditional power system also requires to be upgraded. Till recently, we had generation, transmission and then distribution. Now, we find generation embedded everywhere," he added.
Stressing on the significance of northeastern states in terms of renewable energy growth, the MD said that India’s North-East can be established as a knowledge hub and leader in the power sector. “Strong, fair, and unbiased regulations are the backbone of the power sector in India which is facilitating the phenomenal growth of the sector," he said. The conclave was chaired by S.K, Soonee, former CEO, of POSOCO and was attended by Sanjay Krishna, Chairman, of Assam Electricity Regulatory Commission (AERC), S.N. Kalita, Member AERC, among others. Addressing the conclave Kumar Sanjay Krishna, Chairman of the Assam Electricity Regulatory Commission (AERC), said that Assam would turn into a leader in the renewable energy growth story in northeastern India. OTPC is a joint venture company of ONGC, GAIL, the Government of Tripura and India Infrastructure Fund-II.
