Climate change has adversely affected all the sectors, and forecasts are no different. To mitigate the impact of climate change and align with the Paris Agreement, governments need to act drastically to shift to a low carbon economy. A developing country like India needs heavy investment across the sectors to grow sustainably. Companies and the private sector have been the vehicles of creating economic value in society. The private sector can contribute financial resources for adaptation through investments, financial risk management, commercial capital, and charitable resource provision through private foundations. Such tools can help governments achieve the best returns from risk-mitigation projects, given the inevitable constraints on time and resources.
The Uttar Pradesh Government recognises the immense potential of the private sector in the development of economic infrastructure. The increased access to private funds, improved management and higher efficiency in infrastructure projects through private sector participation can usher in the policy’s vision of creating a resilient infrastructure yielding long term benefits.
Hence, the State Government is committed to supporting private-sector infrastructure investment by creating the right business environment through more consistent policies. The Government will also welcome and explore new and innovative means of collaboration with the private sector, including various models of Public-Private Partnerships (PPP).
Major Indian Corporate/companies working in the field of Clean Energy and Sustainability
Indian companies are making their own climate pledges utilising next-generation solutions, ranging from hydrogen-based steel manufacturing to developing next-generation carbon capture and energy storage technology. Major Indian companies include Tatas, Reliance, Mahinda, Wipro, Adani have pledged to move towards carbon neutrality and focus on low carbon technologies and renewable sources of energy.
Adani Green Energy Limited (AGEL) is one of the largest renewable companies in India, with a current project portfolio of 13,990 MW. AGEL is part of the Adani Group’s promise to provide a better, cleaner and greener future for India. Driven by the Group’s philosophy of ‘Growth with Goodness’, the Company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. The electricity generated is supplied to central and state government entities and government-backed corporations.
TPREL is a wholly-owned subsidiary of Tata Power Company Limited (Tata Power). TPREL is Tata Power's primary investment vehicle for the clean and renewable energy-based power generation capacity. TPREL develops, constructs and operates wind and solar power assets.
Suzlon Group is among the world's leading renewable energy solutions providers that is revolutionising and redefining the way sustainable energy sources are harnessed across the world. Present in 18 countries across Asia, Australia, Europe, Africa and the Americas, Suzlon is powering a greener tomorrow with its strong competencies in renewable energy systems. Suzlon considers itself a leader in the manufacturing and dissemination of renewable energy. Suzlon is the torchbearer of promoting the use of renewable energy sources, thereby helping to sustain the environment. Suzlon is headquartered in One Earth - Pune, which is a Platinum LEED (Leadership in Energy and Environment Design) certified and GRIHA 5 star rated campus and is also among the greenest corporate campuses in the world.
ReNew Power, established in 2011, is one of India’s leading renewable energy companies in terms of total energy generation capacity. Since commencing operations with a 25.2 MW wind project in Jasdan, Gujarat, the company has grown exponentially and has a current renewable asset base of over 10 GW, including projects under development and in the pipeline. In October 2019, ReNew Power became the 1st RE company in India (and 10th globally) to cross 5 GW of installed capacity. In 10 years of its operation, ReNew projects have generated many jobs, directly and indirectly. In 2019-20 ReNew Power contributed nearly 1% of the total electricity generated in India and helped mitigate 0.5% of the carbon emitted in a year.
Tech Mahindra Ltd. a leading provider of digital transformation, consulting and business re-engineering services and solutions has committed to reducing its absolute scopes 1 and 2 GHG (Greenhouse Gas) emissions 22% by 2030 and 50% by 2050, from a 2016 base year. The same has been approved by the Science Based Targets initiative (SBTi). The SBTi approval confirms that Tech Mahindra’s long-term targets are in line with the level of decarbonization required to keep global temperature increase below 2°C, as compared to pre-industrial temperatures, as set out in the Paris Agreement on climate change.
Reliance Power Limited is a part of the Reliance Group. Reliance Power has a diversified portfolio of power projects in which green energy generation has an important share. In solar energy, Reliance Power is present in both the Photo-Voltaic (PV) and Concentrated Solar Power (CSP) segments. They have successfully commissioned a 40 MW solar PV project in Pokharan, Jaisalmer, Rajasthan in March 2012. And also commissioned the world's largest compact linear Fresnel reflector (CLFR) based CSP project 100 MW in November 2014. In the wind energy sector, Reliance Power commissioned a 45 MW wind project in Vashpet, Maharashtra on June 13.