Relevance:
ONGC plans to map the geothermal energy sources of India in search of clean energy as India has set an ambitious target of 500 GW of installed renewable energy capacity by 2030 and net zero carbon emission by 2070.
Key Findings:
- As per preliminary investigations undertaken by Geological Survey of India, there are around 300 geothermal hot springs in India.
- Puga and Chumathang in eastern Ladakh are the most promising geothermal sites.
- Other sites include –
- Cambay in Gujarat
- Tattapani in Chattisgarh
- Khammam in Telangana
- Ratnagiri in Maharasthra
- Efforts are under way to utilize geothermal energy from oil and gas wells in Gandhar oil field of ONGC’s Ankleshwar asset in Gujarat.
- Total geothermal power potential is estimated to be 10 gigawatt (GW).
- Benefits – Carbon-free, renewable, provides a continuous, uninterrupted supply etc.
- Disadvantages – Location-specific energy source, associated with other emissions like sulphur dioxide and hydrogen sulphide, causes mini tremors in area of operation, high initial cost etc.
ONGC’s Energy Strategy 2040 Targets:
- To double oil and gas output from its domestic and overseas fields and expand its refining capacity three-fold alongside diversification into renewables.
- Three times revenue distributed across exploration and production, refining, marketing and other businesses
- Four times current profit-after-tax (PAT), with 10 per cent contribution from non-oil and gas business
- 5-6 times current market capitalization
Geothermal energy:
- It is an energy source that is stored in the form of heat beneath earth’s surface and is considered to be clean, renewable and carbon-free.
- Magma in inner layer of earth heats nearby rocks and underground aquifers, as a result hot water is released through geysers, hotsprings, steam vents, underwater hydrothermal vents, and mud pots.
- Hot water and steam can be piped up through underground wells and used to generate electricity in a power plant.
With reference to solar power production in India, consider the following statements: (2018)
- India is the third largest in the world in the manufacture of silicon wafers used in photovoltaic units.
- The solar power tariffs are determined by the Solar Energy Corporation of India.
Which of the statements given above is/are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Reference: Live mint
