Sustainable energy transition powering Indian real estate

financialexpress.com:

Fossil fuels have powered human progress for centuries, but their unimpeded use has left us with a ‘substantial possibility’ of the global temperature rise breaching the 2° Celsius threshold by mid-century, despite significant efforts to counter global warming. Notably, the Global North accounted for about 75% of the cumulative global emissions until the last century. But as the Global South – which includes India – moves along a similar growth curve, it is crucial to remember that it does not have the luxury of having vast reserves of fossil fuels at its disposal. Besides, India’s aspirations for a renewable energy-driven future face a challenging path. Despite significant progress, with around 43% of installed power capacity being renewable, coal-based thermal power still contributes to roughly 75% of India’s power generation due to the intermittent nature of solar and wind energy. India must balance decarbonization with industrialization to fuel economic growth and employment opportunities.

Further, to achieve the goal of 50% non-fossil-fuel-based installed capacity, it is imperative for India to increase its share of renewable power through various modes. India has set an enhanced target of generating 500 GW of non-fossil-fuel-based energy by 2030. This is the world’s largest expansion plan in renewable energy. In this context, understanding the linkages between energy and real estate has become imperative amidst sustainable power becoming an overriding theme in real estate. To address the scenario, the real estate industry leaders are taking steps to mitigate climate change by increasing their decarbonization efforts. Taking climate action to the next level, a select group of marquee developers are also setting the