Budget 2022: Sovereign green bonds, battery swapping policy to help in achieving renewable energy goals, says SunSource CEO

New Delhi: Finance Minister Nirmala Sitharaman, on Tuesday (February 1), presented the Union Budget 2022. During the Budget presentation, Sitharaman noted that with Budget 2022, the government will promote energy transition and climate action. 

SunSource Energy, Co-Founder and Chief Executive Officer, Adarsh Das said that the industry welcomes ‘Climate Action’ as one of the pillars of Union Budget 2022. “We believe that the impetus to domestic manufacturing of solar panels through the Rs 19,500 allocation of additional allocation to the PLI scheme is a great step,” he added. 

Industry welcomes #ClimateAction as one of the pillars of #UnionBudget2022, says Adarsh Das, Co-Founder and Chief Executive Officer, SunSource Energy @adrenew #Budget2022 #Budget #BudgetOnZee pic.twitter.com/5DS8xum8qb — Zee News English (@ZeeNewsEnglish) February 1, 2022

Das said that the next one or two years, although there will be some increased costs, it is going to be a net positive for the industry as a whole. Also Read: Google to build more products in India for the world, says CEO Sundar Pichai

“The provision for sovereign green bonds to reduce the cost of capital and the robust battery swapping policy will both help the industry get to the goal of 500 Gw of renewable capacity as well as the overall net zero goals of the government for the country,” he added. Also Read: Budget 2022 lays down road map for an ‘Aspirational India', says Meesho CEO Aatrey