138
EVENTS
RE-INVEST: India stepping up sustainable RE transition The third RE Investment virtual summit held this year, will send a signal to the global renewable community about the Indian government’s commitment to the scaling up and development of renewable energy to meet its energy requirements in a sustainable manner.
T
he 3 rd Global Renewable Energy Investment Meeting and Expo (RE-INVEST 2020) was inaugurated by Prime Minister Narendra Modi, through video conferencing. Organized by the Ministry of New and Renewable Energy (MNRE). the theme for the summit was ‘Innovations for Sustainable Energy Transition’. Mr. Modi expressed happiness that in the renewable energy sector, within a short time, the progress from megawatts to
gigawatts in generation capacity and ‘One Sun, One World, One Grid’, are becoming a reality. He pointed out that India’s generation capacity and the network is being expanded to ensure every citizen of India has to access to electricity to unlock his full potential. Today, India’s renewable power capacity is the 4 th largest in the world and is growing at the fastest speed among all major countries; the RE capacity is currently 136 GW, which is about 36 percent of our total capacity.
| November-December 2020
Role of policies in energy efficiency
Prime Minister Modi also stated that India’s annual RE capacity addition has been exceeding that of coal-based thermal power since 2017. He said that in the last six years, India has increased installed RE capacity by two and a half times. He said investing in renewable energy early on, even when it was not affordable, has helped in achieving the scale, which is bringing costs down. India is showing to the world that sound
