RE Invest Aims to Showcase India’s Performance; Subsides Investment

Ministry of New and Renewable Energy (MNRE)’s flagship event, RE Invest, to promote the spread of renewable energy has this time aimed at exchange of ideas between state and private players.

Unlike the first RE Invest held in 2015, the second RE Invest has rather chose to showcase India’s achievements in the renewable energy sector than seeking investments.

Ministry of New and Renewable Energy (MNRE)’s flagship event to promote the spread of renewable energy has this time aimed at exchange of ideas between state and private players.

“During the first RE Invest commitments were sought since the aim then was to bring renewable energy tariffs down,” said K. S. Popli, Chairman, Indian Renewable Energy Development Agency (IREDA), the MNRE’s lending arm for renewable energy projects. “Since then tariffs have come down steeply, so that is not required any more. This time we wanted to showcase India’s achievements in renewable energy. The event has put India on the world renewable energy map as a significant player.”

Moreover, India currently has around 71 GW of installed renewable energy capacity, including 34 GW of wind and 23 GW of solar, which is double of what it had four years ago, and around 20% of the country’s total installed power capacity.

The RE Invest 2018 was conducted along with first assembly of India and France’s joint initiative, International Solar Alliance (ISA).

The events projected the significance that India currently has around 71 GW of installed renewable energy capacity, including 34 GW of wind and 23 GW of solar, which is double of what it had four years ago, and around 20% of the country’s total installed power capacity.

Source: ET