New Delhi, Nov 27: Prime Minister Narendra Modi inaugurated the 3rd Global Renewable Energy Investment called the RE-Invest, on Nov 26. The 3rd Global RE-Invest Renewable Energy Investors Meet & Expo was organised by the Ministry of New and Renewable Energy (MNRE).

 

The expo is to be held from Nov 26 – 28 on a virtual platform with the theme of Innovations for Sustainable Energy Transition. The partner countries of Re-INVEST are Australia, France, Denmark, Germany, UK, Maldives, European Union and USA. The partner states are Gujarat, MP, HP, Rajasthan and Tamil Nadu. RE-Invest will help the investors to get knowledge about the renewable growth.

 

PM Modi, while addressing the event said that COVID-19 has caused significant disruption and reduced the speed of development of renewable energy projects as compared to 2019. In spite of the crisis, the installed renewable capacity of India has increased by two and a half times in the last six years.

 

India is one of the largest producers of renewable energy. Currently, the renewable capacity of India is 136 GW, which is 36% of the total capacity of the country. The Indian Govt has targeted solar projects for houses by 2022. As of September 2020, 89.22 GW of renewable energy is already operational, projects of 48.21 GW are at various stages of implementation and projects of 25.64 GW capacity are under various stages of bidding.