RE-INVEST : Event
The Prime Minister inaugurated the 4th Global Renewable Energy Investors Meet and Expo (RE-INVEST) in Gandhinagar, Gujarat.
- It brings together key players in the renewable energy sector like government officials, industry leaders, investors, researchers, and policymakers.
- It was organised by the Ministry of New and Renewable Energy in collaboration with the Confederation of Indian Industry (CII).
Key Highlights of the RE-INVEST:
- Financial Commitments for Green Projects: Banks and financial institutions committed Rs 32.45 trillion for financing green projects.
- This financial backing reflects India’s growing emphasis on renewable energy development and the robust support from financial sectors.
- Top lenders are Reliance (Rs 6 trillion), Indian Renewable Energy Development Agency Ltd (Rs 5 trillion ), State Bank of India (Rs 5 trillion), Power Finance Corporation (Rs 3 trillion) and National Bank for Financing Infrastructure and Development (Rs 1.86 trillion).
- Support from Developers and Manufacturers: The manufacturers have committed additional manufacturing capacities of 340 GW in solar modules, 240 GW in solar cells, 22 GW in wind turbines and 10 GW in electrolysers.
- Other stakeholders except manufacturers have committed an additional 570 GW of capacity addition.
- India invited global stakeholders to invest in India’s rapidly growing renewable energy sector.
- The government is focused on meeting increasing energy demand sustainably through renewable energy.
- India announced a significant 76% decrease in tariffs for grid-connected solar power plants, making solar energy more affordable and attractive for developers and consumers alike.
