: PM to inaugurate 3rd Global Renewable Energy Investment Meeting on 26 Nov 2020 #FinanceIndia #StockMarketNEWS PM to inaugurate 3rd Global Renewable Energy Investment Meeting on 26 Nov 2020 New Delhi,

@StockMarketNEWS Thu 19 Nov, 2020

Posted in: #FinanceIndia #StockMarketNEWS

PM to inaugurate 3rd Global Renewable Energy Investment Meeting on 26 Nov 2020 #FinanceIndia #StockMarketNEWS
PM to inaugurate 3rd Global Renewable Energy Investment Meeting on 26 Nov 2020 New Delhi, Nov 19 (KNN) Prime Minister Narendra Modi will inaugurate the 3rd Global Renewable Energy Investment Meeting and Expo (RE-INVEST 2020), on 26 November 2020 on virtual platform.

The Secretary of State for Business, Energy and Industrial Strategy, UK & President COP-26; and the Minister of Energy, Utilities and Climate, Denmark will attend and speak in the inaugural session.

R. K. Singh, Minister for New and Renewable Energy, informed that the RE-INVEST 2020 will build upon the success of the first two editions held in 2015 and 2018 and provide an international forum for investment promotion in renewable energy.

It will also send signals to the global renewable community about India’s commitment to the development and scaling up of renewable energy to meet its energy requirements in a sustainable manner.

The event will include a two-day virtual conference on renewables and future energy choices and an exhibition of manufacturers, developers, investors and innovators engaged in the clean energy sector. The event will provide a great opportunity to various countries, states, business houses & organizations to showcase their strategies, achievements and expectations.

It would facilitate collaboration and cooperation with key stakeholders in India, which has emerged as one of the world’s largest renewable energy markets today. Ministerial Delegations from across the world, global industry leaders, and large number of delegates are expected to participate in the event.

The event will include 6 focused country sessions, alongside over 20 plenary and technical sessions, a special Chief Ministerial plenary session. Over 200 speakers including around 80 international speakers will speak in various sessions. It also includes an exhibition with over 100 exhibiting companies.

The Minister informed that during the last six years, India’s renewable energy capacity has increased by two and half times. Solar energy capacity has increased 13 times. The share of non-fossil fuel energy sources in our power generation capacity has increased to 136 GW, or about 36 per cent of our total capacity. By 2022, the share is expected to further increase to over 220 GW.

He further mentioned that in India during the last 6 years, over Rs 4. 7 lakh crore were invested and India has become a favoured destination for investment in renewables. India’s plans for renewables for 2030 will translate into an investment opportunity of around Rs 1 lakh crore per year. India has very liberal foreign investment policy for renewables, allowing foreign investors, either on their own or in joint ventures with Indian partners, to set up renewable energy based power generation in India.