India to acquire critical elements for renewable energy

According to a study, around 55-90% of the world’s critical mineral reserves and processing capacities lie with 15 countries. Indian government is confident that it will be able to address the criticality of minerals through exploration like in the case of lithium. Earlier this year, India’s Geological Survey of India established “lithium inferred resources” along the Salal-Haimana area of Reasi district in Jammu and Kashmir.

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New Delhi, March 4: India is seeking to onboard key stakeholders to focus on the critical need for a cost-effective and risk-proof scale-up of clean energy through diversified supply chains and distributive expansion of manufacturing base. The government is planning to acquire critical mineral assets abroad to ensure that the country will not be “starved” of elements that are critical components for clean energy technologies.

Speaking at an event in Gandhinagar, Gujarat, Bhupinder Singh Bhalla, Secretary, Ministry of New and Renewable Energy (MNRE), Government of India said, “We hope and expect that the deliberations today will help identify a set of collective changes that will put the world on the path to rapid scaling-up of renewable energy, while ensuring energy security, affordability and better quality of life for our people.”

He noted that a series of economic disruptions have exposed the world to risks that are slowing down the pace of the global clean energy transition and have raised concerns about energy security. India will acquire critical mineral assets abroad to ensure that the country will not be “starved” of elements that are critical components for clean energy technologies.

Vivek Bharadwaj, Secretary, Ministry of Mines, has said the majority of critical mineral reserves are in 15 countries. He expressed optimism that India will address the criticality of minerals as the government is working towards making the country “secure”.