The Confederation of Indian Industry (CII) invited Raj Krishnamurthy, Co-founder and CTO, Hygge Energy, to speak at their 12th GreenCo Summit on July 13, 2023

In his talk, Raj shed light on the carbon market, which is currently valued at 1 trillion dollars and is growing at a CAGR of 18.23%. However, before we go any further, there is a need to engage with all the stakeholders involved and simplify participation to encourage involvement from all industry members.

In this interview with Electrical and Power Review (EPR) Magazine, Hygge Energy CEO Prateek Saxena reveals how to realize the potential of solar energy from a practicable and tactical perspective.

Prateek elaborates on solutions to the following challenges for achieving PM Modi's commendable "One Sun One World One Grid" initiative:

1. Massive costs of achieving net-zero for countries: $2 trillion per year till 2030

2. Energy poverty: utilizing renewable energy as a solution

3. Technical and business model challenges: from Hygge's experiences implementing projects

Nigeria has one of the lowest GDP per capita in the world despite its abundance of natural resources. With a stable and affordable power supply through the use of renewable energy sources, some of the positive impact it could have on GDP is: Reduction in Cost of Production, Increased Business Activities, Increase in Foreign Direct Investments (FDI), Reduction in Unemployment, Reduction of Inflation, and an Additional Income Source.

Nigeria has an abundance of natural resources to generate renewable energy, yet almost half of the country lives without electricity. Fossil fuels account for 86% of Nigeria's energy generation,

Hygge can help by provide reliable energy through its energy trading platform while ensuring efficient use through redistribution to households, businesses, and communities that need solar power.

Electric vehicle adoption comes with a demand for electricity. How clean is the electricity fueling these vehicles? What proportion of EVs are really zero emissions? EVs are significantly less polluting than petrol and diesel-powered cars as they do not produce tailpipe emissions. However, the carbon footprint of EVs can be attributed primarily to the manufacturing process and sourcing of energy.