Puranik & Fraser International ramps up Net Zero Legal Solutions as India’s clean energy momentum enables India to outperform its Paris pledges.
India’s future prosperity will hinge on affordable, clean and reliable energy.
India is the world’s third-largest energy consuming country. Energy use has doubled since 2000, with 80% of demand still being met by coal, oil and solid biomass although, on a per capita basis, India’s energy use and emissions are less than half the world average.
India has exceeded the goals set out in its Nationally Determined Contribution (NDC) under the Paris Agreement. The emissions intensity of India’s economy is projected to improve by 40% from 2005 to 2030, above the 33-35% set out in its existing NDC. The share of non-fossil fuels in electricity
generation capacity is projected to reach almost 60%, well above the 40% that India pledged. India’s leadership in the deployment of clean energy technologies is projected to expand its market for solar PV, wind turbine and lithium-ion battery equipment to over US$40 billion per year.
Puranik & Fraser International, led by Mukund Puranik and Hugh Fraser, is lining up to support clients seeking to embrace the energy challenges and opportunities in India identified in the International Energy Agency (IEA) 2021 special report on the country, with technology focussed manufacturing joint ventures being a key priority.