By: Shabnam Saini Source: Hindustan Times, Business Standard, BusinessWeek, Al Jazeera English title India’s $2 billion wind farm boom, India’s cash crunch, is the new gold article By the end of March, India had set a record of more than $2.2 billion for wind farms installed in 2016.
But despite the huge investment, India is struggling to meet the growing demand for electricity and water in the country.
The country is currently in the midst of the biggest energy crisis in decades, with power prices continuing to rise, and the government has been grappling with how to cope with soaring costs.
India is also reeling from the collapse in global oil prices, as oil companies have cut their output.
In the US, the Trump administration has pledged to cut federal taxes for corporations by $1 trillion.
India’s government, on the other hand, has promised to boost its budget by $900 billion in order to meet its energy needs.
This week, Indian Prime Minister Narendra Modi announced that he was establishing a new type of power supply chain.
It will bring renewable energy sources and the sale of electricity to India’s rural areas, but at a significantly lower cost.
The new system will be built on a new technology called blockchain, which enables anyone to control a piece of technology, which can then be sold.
In fact, there is no need for any infrastructure at all, said Rajesh Raja, CEO of Global Renewable Energy, an energy investment consultancy.
This is because this system, called blockchain-enabled payments, will be able to make payments instantly and without any intermediaries, said Shabham Sain, managing director of global renewable energy at Global Advisors, an investment bank.
This is the first time that India has been able to introduce blockchain-based solutions for the electricity sector.
The government has promised that the technology will be rolled out in the next five years.
This new supply chain will allow for a lot of innovation, said Amitabh Desai, head of the Energy and Power Policy Group at the Indian Institute of Technology, Delhi.
The technology, the technology is ready to scale.
We’re just at the beginning of the journey.
This can transform the power sector of the country in India.
We can also use it to build a new generation of smart grid.
The energy system of the future will be powered by solar, wind, geothermal, nuclear, and biogas.