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India woos investors in renewable energy sector

By TIOL News Service

NEW DELHI, OCT 12, 2017: AS a part of the Curtain Raising ceremony of second edition of the Global Renewable Energy (RE) Investors Meet & Expo (RE-INVEST 2017), the Union Minister of State (IC) for Power and New and Renewable Energy (NRE), Mr. R.K. Singh, noted that India's energy needs are going to double in the next 6-7 years at the present rate of growth of the economy. Nevertheless, India would continue to grow at a brisk pace and at the same time, decrease its carbon footprint so as to maintain its commitment towards giving the future generations a cleaner environment to live in. By 2030, 40% of India's energy needs would be met by Renewable Energy, he added.

Addressing the august gathering of delegates from a number of foreign missions in India, Mr. Singh said that India invites all Nations to partner in the endeavour to harness Clean Energy and Save the Planet. The Minister added that investing in Indian RE sector not only helps in reduction of global carbon footprint but it is also a great business opportunity for all partner Nations, looking at the size of RE market in India. Mr. Singh also assured the gathering that Government of India is committed to bring in policies to aid its partner countries to come and 'Make in India' in the RE sector.

Speaking during the event, Mr. Anand Kumar, Secretary, MNRE, informed that RE-INVEST 2017 is likely to be inaugurated by the Prime Minister of India, Mr. Narendra Modi. It has been envisioned as a global event where strategies for development and deployment of renewable energy will be deliberated upon. Heads of various Ministries of India and Heads of International Agencies like International Energy Agency, International Renewable Energy Agency and bilateral and multilateral financing institutions will be participating in these sessions. The event will also include Government to Government, Government to Business and Business to Business interactions.

On this occasion, a new website for RE-INVEST 2017 was also launched in the presence of French Ambassador to India, H.E. Mr. Alexandre Ziegler. France will be the partner country for the event.

Giving an overview of the sessions that would be taking place during the 3-day event, Mr. Praveen Kumar, Additional Secretary, MNRE said that on the first day of the RE-INVEST,various Indian States will showcase their policy initiatives. The second day will have technical sessions on innovative financing, electric mobility, electricity storage solutions, and hybrid renewables. The final day will start with ISA's Ministerial Plenary followed by roadmap to achieve ISA's Vision and Mission and a session on ISA Financing.

The second edition of the Global RE-INVEST 2017 will be held from December 7-9, 2017 at the India Expo Centre, Greater Noida and National Capital Region of Delhi. The RE-INVEST 2017 will also provide a platform for reviewing the commitments made in RE-INVEST 2015 by industry, banks, manufacturers.