Energy compact goals

In news- Recently, NTPC declared its Energy Compact goals as part of UN High-level Dialogue on Energy (HLDE).

Key points of NTPC’s declaration-

• NTPC, India’s largest power generating company under the Ministry of Power has become the first energy company in the energy domain in India to declare its Energy Compact goals as part of UN  HLDE. 
• NTPC has set a target to install 60 GW of renewable energy capacity by 2032. 
• It is also aiming at a 10% reduction in net energy intensity by 2032.
• NTPC has declared that it will form at least 2 international alliances/groups to facilitate clean energy research and promote sustainability in the energy value chain by 2025.
• The targets were unveiled in the recently held ‘Ministerial Thematic Forums for the HDLE’ event.
• The Company had earlier planned to have a minimum of 32 GW capacity through RE sources constituting nearly 25% of its overall power generation capacity by 2032.

What is the UN High-level Dialogue on Energy (HLDE)?

• HLDE  presents a historic opportunity to provide transformational action in the first years of the SDG Decade of Action and support the implementation of the Paris Agreement.
• It seeks to promote the implementation of the energy-related goals and targets of the 2030 Agenda for Sustainable Development, and to raise ambition and accelerate action towards the achievement of the SDG 7 energy targets. 
• The UN Secretary-General is convening the HLDE at the summit level during the 76th session of the UN General Assembly in September 2021, in New York. 
• This event was mandated by General Assembly resolution 74/225.
• It will be the first global gathering on energy under the auspices of the UN General Assembly since the UN Conference on New and Renewable Sources of Energy in 1981.
• Efforts to catalyze Energy Compacts will be co-led by Sustainable Energy for All (SEforALL) together with UN-Energy members.