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MNRE announces 4th Global Investment Meet & Expo

Published: Sep 12, 2024

By TIOLCorplaws News Service

NEW DELHI, SEP 12, 2024: YESTERDAY, at a press conference in New Delhi, Union Minister for New and Renewable Energy, Pralhad Joshi, announced that the Ministry of New and Renewable Energy (MNRE) will be hosting the 4th Global Renewable Energy Investors Meet & Expo (RE-INVEST 2024) from September 16 to 18, 2024. This high-profile event will be held for the first time outside Delhi at the Mahatma Mandir in Gandhinagar, Gujarat. This significant event underscores the Government of India's high priority for accelerating the clean energy sector and advancing our climate goals. India requires an investment of Rs. 30 Lac Crores to achieve its target of 500 GW of non-fossil fuel installed capacity by 2030, Minister informed.

Pralhad Joshi said,  "India recognizes the importance of building a green sustainable future for the next generation, and at the core of this lies Prime Minister's vision of Panchamrit and installing 500 GW of non-fossil power by 2030." This is not a dream but a collective goal that Hon'ble Prime Minister Narendra Modi has set, he said while addressing a curtain raiser press conference at his residence here today.

It is pertinent to note that India requires an investment of Rs. 30 Lakh Crores to achieve its target of 500 GW of Renewable Energy by 2030.

"I have just come back from Gujarat to oversee the preparations alongwith the senior officials of Gujarat. Preparations are underway and there were detailed discussions on every aspect of the mega event. Through you, I would like to highlight that the Ministry of New and Renewable Energy, Government of India is holding the fourth edition of Global Renewable Energy Investors' Meet and Expo (RE-INVEST) 2024 from 16th to 18th September 2024 at Mahatma Mandir, Gandhinagar," the Minister added.

Union Minister for New and Renewable Energy, Pralhad Joshi, earlier conducted a comprehensive review of the preparations for RE-INVEST 2024 in Gandhinagar on 9th September 2024. Expressing his satisfaction with the progress, Joshi commended the meticulous planning and readiness of the event. This review underscores the high level of commitment and priority the Government of India places on ensuring the success of this pivotal conference. The meticulous preparations reflect the Government's dedication to driving significant advancements in the clean energy sector and reinforcing India's position as a global leader in renewable energy.

Event Overview:

RE-INVEST 2024 will be inaugurated by the Hon'ble Prime Minister of India, Narendra Modi, on September 16th, with the valedictory session to be presided over by the Hon'ble Vice President, Jagdeep Dhankhar, on the final day. The three-day conference is anticipated to draw over 10,000 delegates, including influential figures from government, industry, and financial sectors.

Focus and Objectives:

The central theme of RE-INVEST 2024 will be the Mission 500 GW, which underscores India's strategic goal to expand its renewable energy capacity significantly by 2030. As the 4th largest country globally in installed renewable energy capacity, India aims to further consolidate its leadership in the global energy transition.

Key international partners for this year's event include Australia, Denmark, Germany, and Norway. Additionally, Indian states such as Andhra Pradesh, Gujarat, Madhya Pradesh, Telangana, Rajasthan, Karnataka, and Uttar Pradesh will actively participate. High-level delegations from the US, UK, Belgium, the European Union, Oman, UAE, Singapore, and Hong Kong will also be in attendance, with some delegations led by ministers from Germany and Denmark.

Conference and Exhibition:

The conference will feature an extensive agenda across 44 sessions, including a Chief Ministerial Plenary, a CEO Roundtable, and discussions focused on renewable energy innovations and opportunities specific to various countries and states. Noteworthy sessions will address the role of women in accelerating energy transitions and provide a platform for start-ups, including pitches by the ten winners of the Solar X Challenge.

In parallel, an exhibition will showcase contributions from public and private sectors, state governments, and start-ups. Networking opportunities will be abundant, facilitated by a dedicated B2B digital platform for business-to-business (B2B), business-to-government (B2G), and government-to-government (G2G) interactions. The Confederation of Indian Industry (CII) is the industry partner for this year's event, supporting a successful collaboration among stakeholders.

India's Renewable Energy Progress:

India's renewable energy sector has experienced remarkable growth, supported by initiatives such as the Production-Linked Incentive (PLI) Scheme, 100% Foreign Direct Investment (FDI) under the automatic route, and the Green Energy Corridor project. Programs like PM KUSUM and PM Surya Ghar Muft Bijli Yojana further bolster this progress. As India works towards its 2030 goal of 500 GW of non-fossil power capacity, RE-INVEST 2024 will be instrumental in attracting global investments, advancing green hydrogen projects, and exploring offshore wind energy potential.

There is a need to make the energy transition a mass movement, with ordinary citizens becoming ambassadors for securing the future of the next generation. Only collective efforts can ensure a sustainable and secure energy future for all.

To accelerate the expansion of renewable energy in India and worldwide to further create business opportunities and to create new avenues for meeting the increasing demand for capital, support technology transfer and enhance the development of innovative technical solutions, India and Germany have agreed to jointly launch India-Germany Platform for Investments in Renewable Energy Worldwide.

Historical Context:

RE-INVEST has a notable history, with its inaugural edition held in February 2015 in New Delhi, followed by subsequent editions in October 2018 in Delhi NCR, and a virtual edition in November 2020. Each edition has been inaugurated by the Hon'ble Prime Minister, underscoring the critical importance of renewable energy in India's national agenda.

India, despite having one of the lowest per capita emissions globally, is making significant strides in climate mitigation through its robust and proactive renewable energy initiatives. The country's commitment to reducing greenhouse gas emissions is evident in its ambitious deployment of renewable energy technologies. RE-INVEST 2024 serves as a pivotal platform to drive substantial investments in this sector, fostering effective climate mitigation strategies. By showcasing India's achievements and future goals in renewable energy, RE-INVEST 2024 provides an invaluable opportunity for global stakeholders to engage, collaborate, and contribute to India's transition towards a more sustainable and low-carbon future. Through this collective effort, India aims to not only meet its climate targets but also to set a benchmark for global environmental stewardship.

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