WEF 2024: India is crucial for energy transition, says Roberto Bocca
CNBC-TV18 Managing Editor Shereen Bhan speaks with Roberto Bocca, Head of Centre for Energy and Materials and Member of the Executive Committee, World Economic Forum on the challenges, opportunities and trends in the global energy space as the world prepares for transition to renewables and cleaner alternatives.
India is going to play an important part in the energy transition, taking leaps in the energy transition space, said Roberto Bocca, Head of Centre for Energy and Materials and Member of the Executive Committee, World Economic Forum, Davos, while adding that there is a chance of a revival of the use of nuclear energy in many countries.
Speaking with CNBC-TV18 Managing Editor Shereen Bhan, Bocca said, “I always say the energy transition will happen or not; it happened in India and in China. So, I think India will play a really critical role here in developing its own technology, and also deploying on a massive scale, as there are plans to do so.”
On nuclear energy, he said, "In multiple countries, I think there is a chance of a nuclear revival. A big investment can go to nuclear energy."
“In multiple countries? Yes. In Europe, I see the debate is happening. Of course, some countries have been touched more recently by difficult situations like Japan, and so the debate will be even stronger if you like, but in principle, I see a lot of investment going into the nuclear space, which is a signal of interest as well,” he said.
On the development of hydrogen as an alternative fuel, Bocca said that while it is not the solution for everything, it will play an important part and have to be combined with renewables.
On whether developed markets have hit the upper end of the demand curve for electric vehicles (EVs), Bocca said that we are seeing a demand lag as early adopters of EVs have shifted to technology, and now what we need is that the masses also adopt it. And here, both India and China will play a crucial role in terms of transition. But it will take decades for it to happen.
Bocca also stressed the focus on enhancing energy efficiency and aiming to reduce waste when it comes to energy consumption.
Watch the accompanying interview for the full report
(Edited by : Ajay Vaishnav)
First Published: Jan 14, 2024 8:17 PM IST
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