India Development News & Foreign Investment Opportunities

India an exciting place to invest in Renewable Energy

RE-INVEST 2019 from 30 Oct’19

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RE-INVEST 2019 from 30 Oct’19

PIB.
The Minister of State for Power, New & Renewable Energy (Independent Charge) and Skill Development & Entrepreneurship, Raj Kumar Singh delivering the keynote address at the Curtain Raiser: 3rd RE-INVEST 2019, in New Delhi on 8 August 2019.

 

India holds enormous potential in renewable energy (RE) and it is an exciting place to invest in RE, said Raj Kumar Singh, Minister of State for Power and New & Renewable Energy (MNRE) on 8 Aug 2019 in New Delhi.

“We have witnessed the emergence of an international consensus for renewable energy RE-INVEST provides the perfect platform to take it forward,” he said at the Curtain Raiser ceremony for the 3rd Edition of Renewable Energy Investors’ Meet and Expo (RE-INVEST 2019).

India has already installed 80 GW of the 175 GW renewable energy capacity target by 2022, added MNRE Secretary Anand Kumar.

RE-INVEST 2019 will be held from 30 October to 2 November 2019 in India, coinciding with the Second Assembly of International Solar Alliance (ISA).

In his address, ISA DG, Upendra Tripathy emphasized the need to align fiscal, financial and industrial policies to cumulatively charge up the global energy ecosystem and bring energy access to more than one billion people who are without power in the world.

India is among the countries with the largest production of energy from renewable sources.

As of June 30, 2019, India has an installed renewable energy capacity of 80.47 GW, of which solar and wind comprises 29.55 GW and 36.37 GW respectively. Biomass and small hydro power constitute 9.81GW and 4.6GW respectively.

Thus, India offers one of the largest investment opportunities in the renewable space.

The Indian Government allows a 100% FDI under the automatic route for projects of renewable power generation and distribution.

The 2nd Global RE-INVEST, held from 2-5 October 2018, had aimed at accelerating the worldwide effort to scale up renewable energy and connect the global investment community with Indian energy stakeholders.

The 45 in-depth sessions featuring 220 speakers over the 3 days of the conference saw animated exchanges on various topics which brainstormed on expanding India’s RE market in the face of aggressive global competition, said the MNRE. fiinews.com

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