India’s Renewable Energy Commitments Presented at RE-INVEST 2024

During the 4th Global Renewable Energy Investors Meet and Expo (RE-INVEST 2024) held in Gandhinagar on September 16, 2024, Prime Minister Narendra Modi emphasized India’s unique position in terms of diversity, scale, capacity, and potential. He asserted that India is the optimal choice for investment in the 21st century. In his address, Modi highlighted the commitment of 140 crore Indians to propelling the country towards becoming the third-largest economy globally.

Mr. Modi declared that India’s solar revolution would play a pivotal role in the 21st century and announced that in the first 100 days of his third term, the government has concentrated on fostering rapid national progress. He spoke of India’s strategy to leverage solar, wind, nuclear, and hydropower to meet its future energy needs and achieve energy independence, as the nation does not possess its own oil and gas reserves.

For India, creating a green future and reaching net-zero emissions are seen as crucial goals. Modi noted that the government aims to develop Ayodhya and 16 other cities as model solar cities. He revealed significant investments, such as a Viability Gap Funding scheme worth ₹7,000 crore for offshore green energy projects and approval of over ₹12,000 crore for generating 31,000 MW of hydropower.

In showcasing the achievements in renewable energy, Modi highlighted that India is the first among G20 countries to fulfill its climate commitments from the Paris Agreement, accomplishing this nine years ahead of schedule. He emphasized efforts to reach a 500 GW renewable energy target by 2030 and introduced the ‘PM Surya Ghar Muft Bijlee Yojana’, a rooftop solar power initiative already benefiting millions of households.

The expo features diverse sessions, including a Chief Ministerial Plenary and a CEO Roundtable, attracting global participation. Alongside, Mr. Modi announced infrastructure developments such as the inauguration of India’s first Vande Metro and several Vande Bharat trains, as well as metro projects enhancing connectivity in Gujarat.

The Prime Minister also laid the foundational stones for multiple development projects worth ₹8,000 crore, which include railway expansions and the construction of flyover bridges. These steps further cement India’s growing capacity and commitment to a sustainable and green energy future.