PM Narendra Modi at RE-invest 2020: From Megawatts to gigawatts, fastest energy transitions in world and more, check out key points

India’s renewable power capacity is the fourth largest in the world and is growing at the fastest speed among all major countries, said Prime Minister Narendra Modi while inaugurating 3rd Global Renewable Energy Investment Meeting and Expo (RE-Invest 2020) through video conferencing on Thursday. ‘Innovations for Sustainable Energy Transition’ was the theme of the summit that was organised by the Ministry of New and Renewable Energy. This event connected the renewable energy stakeholders in India with the best of the global industry, policy makers and academia. “I am confident that this conference will have fruitful deliberations which will help India steer into a new energy future,” said the PM. Let’s have a look at key points made by the Prime Minister at Re-Invest 2020

* Megawatts to gigawatts: Transformation from megawatts to gigawatts in generation capacity and “One Sun, One World, One Grid” are becoming a reality, said the PM.
* Renewable energy capacity: India’s annual renewable energy capacity addition has been exceeding that of coal based thermal power since 2017.
* Solar energy capacity: India has increased installed renewable energy capacity by two and half time in last six years, while the installed solar energy capacity increased 13 times in the same period.
* Total capacity: The renewable energy capacity in India is currently 136 Giga Watts, which is about 36% of our total capacity.
* $ 20 billion per year business opportunity: Announcement of huge renewable energy deployment plans for the next decade that would generate business prospects of around $ 20 billion per year.  
* 64 billion dollars investment in six years: In the last 6 years, nearly Rs 5 lakh crores or over 64 billion dollars investment has been made in renewable energy sector in India. We want to make India a global manufacturing hub in the renewable energy sector.
* Electricity connections:  In the last few years over 2.5 crore or 25 million households were provided electricity connections. “When I talk about energy efficiency, we have not limited this mission only to one ministry or department. We have ensured that it becomes a target for the entire government. All our policies have a consideration of achieving energy efficiency,” said PM Modi.
 

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