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In light of the global fight against climate change, India presented its ‘Panchamrit Goals’ at COP26 Glasgow summit which include increasing non-fossil fuel energy capacity, reducing carbon emissions, and building a strong green energy infrastructure. These are not just policy declarations but concrete actions already transforming the energy landscape in India. Among the country’s leading industrial states, Gujarat contributes considerably to achieving these targets.

Gujarat’s “Net Zero 2070 Policy” complements this national agenda by focusing on state-specific measures. As of 2023, Gujarat has already deployed over 30 GW of renewable energy capacity, with plans to increase this to 68 GW by 2030. The policy targets critical sectors such as energy, where the state plans to add 30 GW of solar and wind capacity by 2030, and industry, which accounts for nearly 40% of Gujarat’s carbon emissions. The state is also pioneering the development of green hydrogen, with projects aimed at generating approx 1 million tonnes of green hydrogen annually by 2035.

ENERGY DIVERSIFICATION AND THE ROLE OF RENEWABLE ENERGY

Gujarat is leveraging its natural resources and favourable geography to diversify its energy mix. The state is one of the leading states in renewable energy deployment, with a capacity of approximately 20-25 GW, and has set a target to increase this to 68 GW by 2030. A closer examination of Gujarat’s renewable energy portfolio reveals strategic focuses that offer new insights for stakeholders:

1. Solar Power: Scaling New Heights: The state’s solar capacity is bolstered by mega projects such as the 5 GW Dholera Solar Park, one of the largest in the world. However, what sets Gujarat apart is its pioneering work in distributed solar power. The decentralised approach has led to significant adoption of rooftop solar, making Gujarat a model state for harnessing urban and semiurban energy potential. The policy goal of achieving 12 GW of rooftop solar by 2030 provides an actionable insight for stakeholders to explore decentralised energy opportunities and business models.
2. Wind-Solar Hybrid Projects: Optimising Energy Yield Gujarat’s wind-solar hybrid energy generation policy presents an innovative approach to maximising energy yield per unit area. This presents opportunities for investors and technology providers in hybrid system design, advanced grid management, and energy storage solutions. With the Gujarat Hybrid Power Policy 2020, the state aims to develop projects combining solar and wind strengths, effectively managing the intermittency issues associated with these renewable sources.
3. Green Hydrogen: The New Frontier in Clean Energy As highlighted in the “Net Zero 2070 Policy,” Gujarat is taking significant steps to become a hub for green hydrogen production. The state’s proximity to ports and renewable energy sources positions it well to lead in green hydrogen exports, targeting approximately 1 million tonnes by 2030 (iamrenew.com). This shift will decarbonise sectors like refining, fertilisers, and heavy transport.

Gujarat’s strong industrial base, contributing significantly to sectors like petrochemicals, ceramics, pharmaceuticals, and textiles, poses unique decarbonisation challenges. The state’s industrial emissions are a critical focus area in the net-zero roadmap.

Key strategies that offer new engagement opportunities include:

1. Energy Efficiency and Process Optimization

The state’s industrial sector, responsible for 40% of its carbon footprint, is ripe for adopting energy-efficient technologies. The “Panchamrit” vision shifts towards advanced manufacturing techniques, process optimisation, and energy management systems. Stakeholders involved in industrial automation, AIbased energy management, and lowcarbon technologies are well-positioned to capitalise on these transitions.

2. Circular Economy and Waste Management

Gujarat is embracing a circular economy approach and focusing on resource efficiency and waste minimisation, particularly in energy-intensive industries. Policies encouraging recycling, reuse, and efficient waste-to-energy processes are being actively promoted.

URBAN PLANNING AND MOBILITY: INTEGRATING SUSTAINABILITY

Urban areas are both the engines of economic growth and significant contributors to greenhouse gas emissions. Gujarat’s approach to sustainable urban planning integrates energy, water, waste management, and green mobility solutions:

1. Green Urban Development

The “Net Zero 2070 Policy” outlines green building codes and standards that aim to reduce energy consumption by 50% in new constructions. Stakeholders in real estate, green building materials, and smart city solutions will find immense opportunities to align with Gujarat’s ambitious urban decarbonisation plans.

2. Electrification of Transport

Gujarat’s Electric Vehicle (EV) Policy 2021 aims to significantly shift towards electrified transport by targeting a 50% electrification rate in public transport fleets by 2030. The development of EV infrastructure, including charging stations and battery recycling facilities, presents an emerging market for companies in the EV ecosystem.

FINANCIAL INNOVATIONS AND INVESTMENT OPPORTUNITIES

Achieving Gujarat’s net-zero ambitions is estimated to require an investment of around $1 trillion over the next 50 years, according to recent projections and financial assessments detailed in the ‘Panchamrut’ and ‘Net Zero 2070 Policy for Gujarat’ documents. The state is exploring innovative financing mechanisms to attract both domestic and international investors:

1. Green Bonds and Climate Finance

The government is considering issuing green bonds to finance large-scale renewable energy projects and sustainable infrastructure.

In the national context, India issued its first sovereign green bonds in early 2023, raising ₹16,000 crore (approx. $2 billion), with the proceeds earmarked for renewable energy and clean transportation projects. Gujarat is expected to leverage this model, tapping into domestic and international capital markets to support its growing portfolio of green projects. By doing so, the state can reduce the cost of capital for renewable energy developers and attract ESG (Environmental, Social, Governance)-conscious investors. This aligns with Gujarat’s broader climate finance strategy to bridge the estimated $1 trillion investment needed for achieving net-zero emissions by 2070.

Also Read :- NTIEM Leads the Charge in Sustainable Textile Infrastructure with Renewable Energy Initiatives

2. Public-Private Partnerships (PPP)

Gujarat has effectively utilised PublicPrivate Partnership (PPP) models to accelerate infrastructure development. For example, the Dholera Smart City project aims to create a world-class urban centre with an investment of approximately ₹1 trillion (around $12 billion). The Kutch Solar Park, one of the largest in the world, covers 2,000 hectares and is expected to generate 30,000 MW of solar power by 2030. The Gujarat International Finance Tec-City (GIFT City), with an estimated investment of ₹50,000 crore (approximately $6 billion), is designed to be a global financial hub. Expanding these PPP models into renewable energy, energy storage, and green hydrogen could foster beneficial collaborations between the public sector and private enterprises.

COMPREHENSIVE APPROACH TO GUJARAT’S SUSTAINABLE FUTURE

Gujarat’s net-zero transition is not just a policy directive but a comprehensive and collaborative effort involving government bodies, private sector players, academia, and civil society. Gujarat presents a fertile ground for stakeholders to innovate, invest, and lead in sustainable energy. The journey towards net zero is fraught with challenges but equally filled with opportunities for those willing to engage with a forward-thinking state redefining its economic future.

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