IEA highlights India’s progressive function in the global energy market

Dr Fatih Birol delivers the 2018 Darbari Seth Memorial Lecture in New Delhi (Source: IEA)

    The International Energy Agency (IEA) has actually been commended by R K Singh, India’s Minister for Power and New and Renewable Resource, on its contribution to global energy analysis and the substantive progress it is making to ‘open its doors’ to emerging countries.During a recent visit to New Delhi,

    Dr Fatih Birol, the IEA’s executive director concentrated on the increasing function of India in the worldwide energy market, highlighting the nation’s efforts in increasing electrification, quickly enhancing its energy performance, and reducing costs of solar PV and wind power.While providing the Darbari Seth Memorial Lecture, Dr Birol said:”A key reason for India’s success in renewables is that supportive policy and the tendering of large tasks is assisting investors make the most of economies of scale. “”Given that 2014 solar PV capacity has actually grown over threefold and wind

    has actually grown almost fivefold.”The Darbari Seth Memorial Lecture series was produced by The Energy and Resources Institute (TERI)and has actually been held each year given that 2002, the IEA described in a statement.Strategic conversations Following the lecture, Dr Birol satisfied with Minister Singh, to go over India’s efforts to promote renewable energy deployment.In addition, the executive director talked about international oil and gas markets with Dharmendra Pradhan, Minister for Oil and Natural Gas, and India’s efforts to promote bioenergy, and its development on building oil stocks to enhance its energy security. Learn more: IEA checks out global gas markets over the next five years IEA Executive Director Dr Fatih Birol (best)with Mr Dharmendra Pradhan, Minister for Oil and Gas. Source: IEA Dr Birol was invited to consult with Shri T S Tirumurti, Secretary of Economic Relations at India’s Ministry of External Affairs to talk about India’s growing role in global energy governance and the IEA’s efforts to”open its doors”to India and other

    emerging economies.On Thursday, Dr Birol consulted with Amitabh Kant, CEO of NITI AAyog, to examine the deepening of cooperation between IEA and India, varying from boosting the quality of data and statistics to policy advice to assist the building of a more flexible power system.According to the IEA, Dr Birol and Kant promised to work even closer on energy policy analysis.

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