Gandhinagar: The world is looking up to India and Prime Minister Narendra Modi for leading the next wave of transformation in the energy sector, said Union Minister for New and Renewable Energy Pralhad Joshi on Tuesday. Addressing a press conference on the sidelines of RE-Invest in Gandhinagar, Gujarat, Joshi said that the fourth edition of the event will be remembered as “historic” as it is the first time that “all the stakeholders have come forward to pledge substantial investment for a brighter tomorrow.”
“The Prime Minister is leading from the front and walking the talk. The world is looking up to him and India to lead the next wave of transformation in the energy sector,” said the minister. On September 16, renewable energy companies and equipment manufacturers pledged investments worth Rs 32.45 lakh crore in their shapath patras (commitment letters).
“Developers have committed an additional 570 GW, manufacturers have committed manufacturing capacities of 340 GW in solar modules, 240 GW in solar cells, 22 GW in wind turbines and 10 GW in electrolyzers. Beyond the figures and numbers, this is a big commitment by states, developers, banks, and financial institutions to join hands and work together for a cleaner and sustainable India,” said Joshi.
Joshi thanked RE developers, solar module and solar cell manufacturers, equipment manufacturers, electrolyser manufacturers, banks and financial Institutions who have come forward to pledge massive investments towards the renewable energy sector.
Joshi also chaired the CEO Roundtable on Tuesday where he emphasised that the 500 GW RE target is not just a number and the government is serious about it. He urged the CEOs to share what facilitation is required from the government to achieve the target. The CEOs provided inputs for ramping up the manufacturing, creating demand with effective enforcement of RPO, embedding circularity principles, and enhancing climate resilience of projects.
The India-Germany Platform for Investments in Renewable Energies Worldwide was launched on September 16 to develop concrete and sustainable solutions for the accelerated expansion of renewable energy. The platform will bring together international stakeholders from across the globe, including the private sector (both financial sector and industry), international organisations, development banks and bilateral partners, to create business opportunities, for meeting the increasing demand for capital, technology transfer and innovative technical solutions.
Speaking to the media, the minister listed the achievements of MNRE in the first 100 days of the formation of the new government. He said that a total of 6 GW of RE generation capacity has been commissioned between June and August against the target of 4.5 GW and India’s non-fossil fuel generation capacity reached 207.76 GW. From June to August, Renewable Energy Implementation Agencies have issued RE power procurement bids for 14 GW against a target of 10 GW. Two solar parks have also been completed during this period. Around 1 lakh solar pumps have been installed under PM-KUSUM and 3.56 lakh Rooftop Solar systems have been installed under PM Surya Ghar Scheme. At least 13.8 GW solar module production has commenced in the solar PLI scheme, said the minister.
Under the National Green Hydrogen Mission, 11 companies were selected under the second tranche for electrolyzer manufacturing for a total capacity of 1,500 MW/ annum. The Cabinet approved Offshore Wind Scheme on June 19 and a tender was issued by Solar Energy Corporation of India (SECI). In addition, IREDA has incorporated a subsidiary “IREDA Global Green Energy Finance IFSC Ltd” in GIFT City, said the minister.
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