Explanation:

The Energy Conservation Act

• The Energy Conservation Act, 2001, governs the energy domain in India.
• The Act empowers the Centre to specify norms and standards of energy efficiency for appliances, industrial equipment and buildings with a connected load over 100 kilo Watts (kW) or a contractual demand of more than 15 kilovolt-amperes (kVA).
• The Act established the Bureau of Energy Efficiency.
• The 2010 amendment extended the tenure of the Director General of the Bureau of Energy Efficiency from three to five years.

Amendment Bill, 2022

• The main objective of these proposed amendments is to reduce India’s power consumption via fossil fuels and thereby minimize the nation’s carbon footprint.
• The Centre aims to develop India’s Carbon market and boost the adoption of clean technology.
• India aims to meet its Nationally Determined Contributions (NDCs), as mentioned in the Paris Climate Agreement, before its 2030 target date.

The bill also consists of provisions such as:

• Defining the minimum share of renewable energy to be consumed by industrial units or any establishment.
• This consumption may be done directly from a renewable energy source or indirectly via the power grid.
• Incentivizing efforts to use clean energy by issuing carbon-saving certificates

Hence both statements are correct.