The government is ready to support the domestic industry through policy changes required to ensure companies are able to create growth opportunities amid the disruption in business models caused by the ongoing energy transition, Niti Aayog Chief Executive Officer (CEO) Amitabh Kant has said.
Delivering his Chief Guest address at The Economic Times ETEnergyworld Smart Electricity Conclave, Kant said the energy transition trends create churn and disruption in the power sector but also create opportunities for new and innovative business models.
“We have the opportunity today to affordably meet the electricity needs for economic growth. We can open up new investment opportunities while also meeting carbon emission targets. We can increase our energy security while also creating a large number of new jobs. I assure you that the government will stand ready to enact any policy changes that are required for this purpose,” Kant said.
He listed out the transition trends that can be turned into growth opportunities including the increasing deployment of renewables, the rising prevalence of grid-connected distributed generation, the use of utility scale energy storage and the digitalization of the power grid.