AUGUSTASIA BUSINESS OUTLOOK8Union Minister R K Singh announced on Friday that India has met its goal of producing 43.6 percent of total energy from non-fossil fuel sources nine years ahead of schedule.The Minister of Power and New and Renewable Energy delivered the opening remarks at the G20 14th Clean Energy Ministerial Meeting and 8th Mission Innovation Meeting in Goa. "India has already met its goal of producing 43.6 percent of total energy from non-fossil fuel sources." "The country is nine years ahead of schedule for 2030," he said.Out of a total capacity of 421 GW, India's installed electricity capacity from non-fossil fuel sources is 183 gigatonnes (GW). "We have 88 GW installed and 55 GW tendered out." "If you take the installed and under construction capacity, it comes to about 270 GW, which is well above 50 percent of our service capacity," he said.According to Singh, India will add 50 GW per year. According to the minister, the world has already surpassed the challenge posed by climate change sceptics. "Those who claim there is no such thing as global warming and that it is all a myth propagated by developed countries." Now, nobody says that because the effect of climate change is there for all of us to see," he said."We see the raging wildfires, increase in temperatures. Nobody has any doubt that climate change is real," he added.Singh pointed out that India has the lowest per capita carbon emission in the world. "Our emission is 2.29 tonnes per capita per year. The global average is about 6.3 tonnes. The reason for that, partly, is the cultural factor," the minister said. JERA, Japan's top liquefied natural gas buyer, announced on Friday that it will invest $300 million in green technology-focused start-ups through a newly formed in-house unit as part of the country's efforts to achieve carbon neutrality by 2050.JERA, Japan's largest utility, said in a statement that it would target start-ups that develop decarbonisation technologies such as hydrogen, ammonia, and other renewables, digital technologies, and those focusing on women's health.JERA Ventures intends to invest in venture capital funds associated with such start-ups, according to the company.Following Japan Prime Minister Fumio Kishida's visit to the Middle East earlier this week, JERA announced a strategic collaboration agreement with ADNOC of the United Arab Emirates to collaborate in clean hydrogen and ammonia.JERA has also signed a memorandum of understanding with Saudi Arabia's Public Investment Fund, which is leading the world's largest oil producer's decarbonisation drive, to explore the development of green hydrogen projects and derivatives, the company announced on July 21. NEWSROOMINDIA NOW SOURCING 43 PERCENT OF ITS ENERGY FROM NON-FOSSIL FUEL SOURCESJERA ALLOCATES $300 MILLION FOR GREEN TECH STARTUPS
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