India needs $10 trillion till 2070 for energy transition at G20 meeting

Policy on carbon capture likely in next 3 months

India will need a total $10 trillion till 2070 for energy transition, top officials stressed at the first meeting of the G20 Committee on Energy Transitions in India.

Addressing the press, Power Secretary Alok Kumar said low-cost financing had been a key focus of the meet being held in Bengaluru. The unanimous decision has been that while private capital needs to take the lead, the public sector also has to provide support to mitigate risks, Kumar said.

He said while the power ministry had been given the charge of projecting the requirement of financing, the finance ministry would deal with