India cannot do away with energy security only because it has to meet climate goals, a senior official said on Tuesday.

The statement assumes significance due to India's focus on energy transition with ambitious targets of 500 GW of renewable energy by 2030 and net-zero by 2070.

India's power demand touched an all-time high of 243.27 GW in September this year. India has installed power generation capacity of about 426 GW, including over 213 GW coal and lignite based.

"We cannot do away with energy security, only because we have to meet the climatic goal," Special Secretary and Financial Adviser, Ministry of Power, Ashish Upadhyay, said while addressing the inaugural CII South Asia Power Summit.

Apart from India, three other countries in the region -- Bhutan, Bangladesh, and Nepal -- are participating in the summit.

"We have got huge resource of thermal (coal-based) power. Of course with due respect to all those who are talking about climate change protection and net zero emission... We have highest regard for it and are working highly for it. But for us, energy security is also important."

He further said this year the country saw peak power demand of (over) 240 GW "and now if we look forward to the future, there is tremendous need for (power generation) capacities".

About cooperation among the four nations, he said aspirations of people of these countries have seen an unprecedented rise.

He said the four countries are eyeing high economic growth rates of up to 8 per cent.

"We are very well poised to meet the increased demand as we have the common grid that can transfer any amount of energy from one region to another," he said.

The region has natural resources, rivers flowing through the nations which can be tapped, he added.

While mentioning about global disruptions following the Russia-Ukraine war, he said the region should work together to create its market and "protect our society against future disru