Calling India a red-hot investment opportunity based on its ongoing moves to transition to increased use of clean energy, Kerry last week heaped praise on the Indian government in New Delhi although he seemed unaware of the huge dip in Indian renewables projects in recent months at a time the nation’s feed in tariff (FiT) systems continue to suffer on the back of over-saturation of solar PV projects in particular.
Speaking in the U.S., to the World Sustainable Development Summit 2021, Kerry said “We believe India can be one of the most critical transitional countries in this entire endeavour. I am confident that just as we have worked very closely on any number of issues in these last years, our two nations — the world’s two biggest democracies — have a great deal to gain from joining hands in our global leadership and confronting the climate crisis to meet this moment,” adding “India is actually a red-hot investment opportunity for its clean energy transition.”
Speaking of the Indian prime minister Narendra Modi and his government in flattering terms, Kerry went on to say “(You) are indisputably a world leader in the deployment of renewable energy and your leadership of the International Solar Alliance, which Minister Jaishankar referred to, is absolutely critical for not just India, but for other dynamic, growing economies in the world.”
Prime Minister Modi had announced a huge target of 450 gigawatts of installed renewables to be put in place by India by 2030, although this will likely remain out of reach without a significant overhaul of India’s current bidding and project allocation methods that have currently seen interest from outside the country stall in large part.
The U.S. and India are two of the worst three polluting nations in the world at present.
Continuing with the flattery, but ignoring the realities on the ground in India, Kerry went on to comment that Prime Minister Modi is “committed to this (climate change action) and seized by it”, going on to add that “(By) 2030, the International Energy Agency forecasts that if India drives even more aggressively towards this clean energy transition, it will create half a million additional jobs than business as usual would create. Indian industry is obviously already stepping up and showing leadership. I was very pleased to hear that dozens of India’s biggest companies recently signed a declaration on climate change, pledging to go carbon neutral.”