changeadminThe 4th Global Renewable Energy Investor’s Meet and Expo (RE-INVEST) kicked off in the western Indian state of Gujarat today. It is the first time that the event has been held outside Delhi.
The event was inaugurated by the Indian Prime Minister, Narendra Modi. The 3-day summit is poised to highlight India’s impressive progress in renewable energy manufacturing and deployment.
Making the welcome speech, Prime Mister, highlighted India’s remarkable achievement of over 200 GW of installed non-fossil fuel capacity, which includes renewables like Bioenergy (11 GW), Solar energy (89 GW), Wind energy (47 GW), and Hydroenergy (52 GW).
He further outlined India’s goals to achieve the target of 500 GW of renewable energy by 2030 and said that the government has turned the green transition into a people’s movement.
Prime Minister mentioned several steps the country has taken towards the clean energy sector like the Rooftop Solar Scheme to facilitate rooftop solar installation at every household in India, Mission LiFE i.e. Lifestyle for Environment, International Solar Alliance, Global Biofuel Alliance, Green Hydrogen Mission, etc.
Many of these initiatives, besides reducing carbon emissions, will also generate green jobs and provide financial benefits to families, like in the case of rooftop solar.
Another interesting aspect that Prime Minister Modi elucidated was the Government’s vision for creating 17 Solar Cities in India. These cities will have solar installations in all offices, homes, public infrastructure, etc.
Modi also mentioned that India is working towards producing 31 GW of hydropower in the coming times with an outlay of Rs 12,000 crore.
The participants in RE-INVEST include chief ministers from several Indian states, and delegates from countries like Germany, Australia, Denmark, and Norway, along with many industrialists, innovators, startup entrepreneurs, and policymakers.
Speaking on the occasion, Andhra Pradesh Chief Minister Chandrababu Naidu pledged his state’s commitment to generate 72.60 GW of renewable energy by 2030, aligning with India’s goal of 500 GW by the same year. He also announced plans to establish a Global University for Clean Energy and Circular Economy to promote knowledge sharing and innovation.
Gujarat aims to contribute 100 GW of installed clean energy capacity by 2030, Telangana hopes to add 40 GW by 2035 and Karnataka has set an ambitious target of adding 19.2 GW of renewable energy by 2030. Several other Indian states also have their renewable energy plans.
Some notable investments were also made on the first day, Torrent Power, a prominent player in the utility sector, has pledged an investment of over Rs. 64,000 crores toward renewable energy projects by 2030, which includes plans to establish renewable energy projects with an investment of Rs. 57,000 crores for a capacity of 10GW by 2030, and a green ammonia production facility at an estimated cost of Rs. 7,200 crores.
The event is a collaborative effort between India’s Ministry of New and Renewable Energy (MNRE) and the industry body Confederation of Indian Industries (CII). Over the next two days, the conference will feature more than 40 sessions, including multiple CEO roundtables.
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