This post is a part of DIL Intelligence series from Energy Alternatives India (EAI), India’s leading climate-tech consulting firm.
DIL stands for Decarbonization for India’s Leaders and provides comprehensive market intelligence and updates to Indian corporate leaders on prominent decarbonization efforts across the Indian industrial ecosystem. DIL is provided by EAI’s strategy consulting team. More about our consulting from here.
Siemens, a German multinational conglomerate, has been actively investing in various decarbonization avenues in India. The company has been involved in the Restructured Accelerated Power Development and Reforms Programme (R-APDRP) Program of the Government of India for installing Smart Grid solutions in multiple cities in India.
Siemens Gamesa, a subsidiary of Siemens, has signed a supply agreement with ArcelorMittal’s subsidiary in India to supply 46 SG 3.6-145 wind turbines for a project totaling 166 MW in Andhra Pradesh. The clean electricity produced will be used by one of its steel plants, providing a much-needed boost to the industry’s decarbonization efforts in the country. Siemens has invested close to Euro 1 billion in the past five years in India. Siemens is well-positioned to play a key role in India’s rapid urbanization and energy transformation. Siemens is the backbone of the energy system in India when it comes to distribution. Siemens is the undisputed leader in industry 4.0 globally.
Way forward for Siemens
Siemens, with its global expertise in renewable energy, can further invest in India’s renewable energy sector, one of the largest expansion programs globally, targeting 175 GW of capacity by 2022 and up to 450 GW later.
Green hydrogen is emerging as a key player in decarbonization, and Siemens can consider investing in this sector, given its potential in industries like steel, chemicals, and transportation.
Another area with significant potential is Carbon Capture, Usage, and Storage (CCUS), where Siemens can leverage its global expertise. As temperatures rise in India due to climate change, there is a $1.6 trillion investment opportunity by 2040 to keep spaces cool using alternative and innovative energy-efficient technologies.
Siemens can also explore the opportunity of material circularity, another cross-cutting decarbonization opportunity. With progressive policies like the implicit carbon tax on transportation fuels of $140 to $240/ton CO2e helping the electrification of mobility, Siemens can consider investing in electric vehicle infrastructure. Given that agriculture is a significant contributor to India’s emissions, Siemens can explore investments in technologies that reduce emissions from this sector.
This post is a part of DIL Intelligence series from Energy Alternatives India (EAI), India’s leading climate-tech consulting firm.
DIL stands for Decarbonization for India’s Leaders and provides comprehensive market intelligence and updates to Indian corporate leaders on prominent decarbonization efforts across the Indian industrial ecosystem. DIL is provided by EAI’s strategy consulting team. More about our consulting from here.
