India Energy Week 2023


    In News

    The Prime Minister inaugurated the India Energy Week (IEW) 2023, in Bengaluru.

    • The PM also launched E20 fuel and flagged off the Green Mobility Rally.

    What is India Energy Week? 

    • India Energy Week is the first significant energy event of the G20 calendar organised from the 6th to the 8th of February and aims to showcase India’s rising prowess as an energy transition powerhouse. 
    • The event brings together leaders to discuss the challenges and opportunities that a responsible energy transition presents. 

    Key Highlights of the Energy Week 

    • Unbottled Initiative: The uniforms under the ‘Unbottled’ initiative of Indian Oil were launched by the PM. 
      • Guided by the vision of the Prime Minister to phase out single-use plastic, Indian Oil has adopted uniforms for retail customer attendants and LPG delivery personnel made from recycled polyester (rPET) & cotton. 
      • Each set of uniforms of IndianOil’s customer attendant shall support the recycling of around 28 used PET bottles.
      • IndianOil is taking this initiative further through ‘Unbottled’ – a brand for sustainable garments launched for merchandise made from recycled polyester. 
        • Under this brand, IndianOil targets to meet the requirement of uniforms for the customer attendants of other Oil Marketing Companies, non-combat uniforms for the Army, uniforms/ dresses for Institutions & sales to retail customers.
    • Twin-cooktop model: The PM also flagged off the commercial roll-out of the twin-cooktop model of the IndianOil’s Indoor Solar Cooking System that works on both solar and auxiliary energy sources simultaneously, making it a reliable cooking solution for India.
    • E20 Fuel:In line with the Ethanol Blending roadmap, E20 fuel was launched at 84 Retail Outlets of Oil Marketing Companies in 11 States/UTs. 
    • E20 is a blend of 20% ethanol with petrol. The Government aims to achieve a complete 20% blending of ethanol by 2025, and HPCL and other oil marketing companies are setting up 2G-3G ethanol plants that will facilitate the progress.

    India’s Energy Market

    • India’s energy demand has significantly increased and in the coming years, it will reach 11% of the global demand as compared to 5% currently. This offers opportunities for energy companies to invest in and collaborate with energy firms in the country
    • Under the National Green Hydrogen Mission Government had set aside ?1 lakh crore for green hydrogen. India is taking lead in the green hydrogen space, and would replace grey hydrogen (created from natural gas, or methane, using steam methane reformation but without capturing the greenhouse gases made in the process), to increase its share to 25% in the next five years.
    • Domestic exploration of fuels and an increase in production of such fuels was one of the focus areas for the energy sector in the country. 
    • To accommodate these changes, the government is prepared to play a catalyst in accelerating adoption of low-carbon options, including biofuels, electric vehicles, and green hydrogen.