Raghav Mohan Bakshi, General Manager Corporate, RRB Energy Limited, has been a key component in the daily corporate functioning of the company and holds an especially important role too. He not only manages practically every area of the company’s corporate operations, but also devises unique strategies to strengthen the family business’s corporate image. Functions such as enhancing IT procedures, boosting customer service, and preparing for the organization’s future growth/diversification are all under his direct direction.
India has gained significant momentum on its path to industrialization and modernization thanks to the success of programmes like ‘Make in India,’ which was created by the Indian government to transform the country into a global design and manufacturing center. However, the path to a substantial socioeconomic transition is fraught with difficulties. A big challenge is how to sustainably fuel production. On the contrary, the facts appear to be in our favor. Prime Minister Narendra Modi announced in June 2021 that India’s renewable energy capacity expanded by 250% between 2014 and 2021.
Corporate giants have deliberately chosen 100% renewable energy use as part of their commitment to sustainable development. Manufacturing-based growth, on the other hand, demands at least ten times more energy than the service sector. Textiles, food processing, machine manufacture, and other businesses, in addition to the energy-intensive sectors, require additional energy.
The year 2021 was very resilient, and 2022 is projected to be even better. Organizations and companies are confidently and actively incorporating variable renewables into the power grid as the next generation shows a growing interest in clean energy. The advancement of technological development and the increasing use of technologies such as green hydrogen, advanced batteries, and other technologies can provide low-carbon electricity and long-term storage, increase reliability, and make solar and wind energy integration into the electric grid easier, all of which contribute to the goal of 100% clean and renewable energy. Clean energy solutions have enormous potential.
Energy Intensive Sector
According to a report by the International Renewable Energy Agency, pulp and paper, refining, basic chemicals, iron and steel, and other energy-intensive industries account for 75% of total industrial energy and should primarily investigate renewable energy alternatives for new and current capabilities. Using new kinds of hybrid renewable energy could help to overcome the intermittency of wind and solar by combining both resources with energy storage into hybrid systems that can provide power 24 hours a day, seven days a week.
Small and Medium Enterprises
The International Renewable Energy Agency report also said that small and medium-sized enterprises (SMEs) account for 90% of manufacturing businesses worldwide, and hence play a critical role in boosting the deployment of sustainable energy resources. Given that a small or medium-sized firm may not have unlimited cash flow to invest in sustainable technology, biofuels, wind energy, and geothermal heat pumps are all viable possibilities. The options that might fit in vary depending on the industry.
Increased Electrification
With rising electrification in both the corporate and industrial sectors, technology development is essential for the deployment of renewable energy that can sufficiently meet demand. The reliance on fossil fuels and some hydropower for electricity is high, with nuclear energy coming in second, raising one of the key worries, global warming. Using natural resources such as the sun, wind, and seas can help to ensure a long-term future.
Chemicals, Petrochemicals and Cement
These industries have the potential to employ biomass more frequently in their daily operations. The most important component is fossil fuels, which are used in numerous sectors. Increasing the usage of clean energy can assist to alleviate air pollution while also extending the supply of fossil fuels.
Swapping Manufacturing Power Sources
Factories and manufacturing units are diversifying the methods of power generation that are in sync with environmental concerns. Executing alternative methods of power generation from renewable energy sources is conducive to increasing production and turning down energy usage.
Summing Up
Most corporate giants from various industries are all strong supporters of renewable energy. With technological advancements and the financial viability of wind and solar energy, corporations are seeing the long-term risk of continuing to fuel corporate operations at the expense of the environment.