At the Milaap, the third edition of OTPC's annual thought leadership conclave, Sanil C. Namboodiripad, the Managing Director of ONGC Tripura Power Company Ltd (OTPC), emphasized the importance of updating the conventional energy scheme to transition towards renewable energy sources. He pointed out that the electricity sector is currently experiencing a significant shift globally, with countries seeking to reduce their reliance on fossil fuels.
Namboodiripad further highlighted the emergence of large-scale installations of solar and wind power, indicating the growing popularity of renewable energy sources. The need to modernize the energy system has become essential to meet the changing energy demands and ensure a sustainable future. He also mentioned that there is a growing awareness among people about the issues related to climate change, and they are now calling for a sustainable future.
Namboodiripad pointed out that the Russia-Ukraine conflict has caused a substantial increase in energy and electricity costs in Europe, prompting countries to strive towards energy self-reliance urgently. He also expressed gratitude for India's abundance of renewable energy sources and the government's ambitious goals for their implementation. According to Namboodiripad, transitioning from traditional energy sources to renewables would require the modernization of the existing energy system, as generation is now embedded in various locations, unlike the traditional model of generation, transmission, and distribution.
In terms of renewable energy growth, the Managing Director emphasized the importance of north-eastern states, as he believes they have the potential to become knowledge hubs and leaders in the power sector. He further added that the phenomenal growth of the power sector in India is attributed to strong, fair, and unbiased regulations, which serve as the backbone of the industry.
The third edition of the annual thought leadership conclave 'Milaap,' was chaired by S.K Soonee, the former CEO of POSOCO. The conclave was attended by prominent figures like Sanjay Krishna, Chairman of the Assam Electricity Regulatory Commission (AERC), and S.N. Kalita, Member of AERC, among others. Sanjay Krishna, the Chairman of the Assam Electricity Regulatory Commission, addressed the conclave, stating that Assam has the potential to lead the renewable energy growth story in northeastern India. It is worth mentioning that OTPC is a joint venture company of ONGC, GAIL, the Government of Tripura, and India Infrastructure Fund-II.