PM Narendra Modi inaugurated first renewable energy global investors meet

Prime Minister Narendra Modi inaugurated the first Renewable Energy Global Investors Meet and Expo (Re-Invest) 2015 in New Delhi.

The aim of the meet is to evolve innovative financial models for funding and to ensure the partnership of states and the Centre in harnessing renewable energy.

Germany is the partner country for Re-Invest 2015 and over 2500 delegates including exhibitors from 45 countries are participating in the three day event.

Key highlights of Re-Invest 2015

  • Re-Invest 2015 will showcase the Union Government’s commitment in the development and scaling up of renewable energy in a socially, economically and ecologically sustainable manner to meet the national energy requirement.
  • It will provide single platform to attract large scale investments for solar and wind power generation in India.
  • Re-Invest 2015 includes several sessions headed by experts from the renewable energy industry, equipment manufacturers. It also include sessions of global financial institutions, Public Sector Enterprises, regulatory authorities, Central and state governments, research institutions and academia.

At present, renewable energy contributes over 6 percent of the total power generated in India. Union government is planning to double its share to 12 percent with an investment of $100 billion over the next four-five years.

To increase the share of renewable energy, government also has revised the target of solar power generation from 20,000 MW by 2022 to 100,000 MW by 2020.

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Categories: Economy & Banking Current Affairs