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 "renewable energy")
One of the highlight events at the 4th RE-Invest is the submission of ‘Shapath Patra’.
Leading banks and various financial institutions have committed close to $386 billion (Rs 32.45 trillion) investment in development of renewable energy projects by 2030, Union minister of new and renewable energy (MNRE) Pralhad Joshi said on Monday.
He was speaking at the inaugural ceremony of 4th RE-Invest Summit hosted by MNRE and CII.
Joshi also said that India’s renewable energy capacity addition has grown by 175 per cent and renewable energy generation has grown by 86 per cent since 2014.
“India is not only the fifth largest but also the world’s fastest growing economy. The growth is driving an unprecedented demand for energy. We are committed to meeting this demand, sustainably,” Joshi said.
He added that India’s solar energy capacity has grown by 33 times since 2014. The minister also cited the recently-launched scheme for rooftop solar, PM Suryaghar Yojana, and said close to 3.5 installations have been completed till date.
Joshi said that while India aims to build 500 gigawatt (Gw) of renewable energy by 2030, the ministry has received commitments worth 570 Gw from the solar power industry.
“The solar manufacturing community has committed 340 Gw of solar module manufacturing capacity, 240 Gw of solar cell capacity by the end of the decade. Wind developers have committed 22 Gw of manufacturing capacity,” Joshi said.
One of the highlights at the 4th RE-Invest was submission of ‘Shapath Patra’ by renewable energy project developers, equipment manufacturers, financing sector and public sector companies. These ‘Shapath Patras’ would enlist the commitment of these stakeholders in building across the renewable energy supply chain or funding it.
Joshi said India has built 200 Gw of renewable energy capacity and is on path to achieve 500 Gw by 2030. This target is one of India’s commitment on global platforms including G20 and to the UNFCC.
First Published: Sep 16 2024 | 11:35 AM IS
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