Prime Minister Narendra Modi during his speech at RE-Invest 2020 on Thursday said that India in the past 6 years has increased its installed renewable energy capacity by two and a half times and that the country’s renewable energy capacity is the fourth largest. of the world.
“You will be pleased to know that our annual renewable energy capacity has surpassed that of coal-based thermal energy since 2017. In the last 6 years, we have increased our installed renewable energy capacity by two and a half times,” said the prime minister. .
“Today, India’s renewable energy capacity is the fourth largest in the world. It is growing at the fastest rate among the major countries. Renewable energy capacity in India is currently 136 Giga Watts, which is approximately 36% of our total capacity, ”added PM Modi.
Look | ‘India fourth largest in renewable energy capacity’: PM Modi at RE-Invest 2020
The prime minister was speaking virtually at the third Global Renewable Energy Investment Meeting and Expo (RE-Invest 2020), a 3-day summit hosted by the Ministry of New and Renewable Energy.
‘Big plans for the next decade’
Later in his speech, Prime Minister Modi said that for the next 10 years, India has huge renewable energy deployment plans that are likely to generate business opportunities of $ 20 billion per year.
“There are huge renewable energy deployment plans for the next decade,” Prime Minister Modi told the conference. “They are likely to generate business prospects on the order of $ 20 billion a year. I invite investors, developers and companies to join India’s renewable energy journey, ”said the prime minister.
Prime Minister Modi further said that India is a perfect example of sound environmental policies that also prove to be a strong economy. “Even when it wasn’t affordable, we invested in renewable energy. Now our investment and scale are reducing costs. We are showing the world that strong environmental policies can also be a strong economy, ”he said.
This year’s theme for the RE-Invest 2020 summit is ‘Innovations for Sustainable Energy Transition’ and is attended by more than 75 international ministerial delegations, more than 1,000 global industry leaders and 50,000 delegates. The summit will discuss renewable energy and future energy options, and an exhibition of manufacturers, developers, investors and innovators.
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