RE-INVEST: India stepping up sustainable RE transition

The third RE Investment virtual summit held this year, will send a signal to the global renewable community about the Indian government’s commitment to the scaling up and development of renewable energy to meet its energy requirements in a sustainable manner.

The 3rd Global Renewable Energy Investment Meeting and Expo (RE-INVEST 2020) was inaugurated by Prime Minister Narendra Modi, through video conferencing. Organized by the Ministry of New and Renewable Energy (MNRE). the theme for the summit was ‘Innovations for Sustainable Energy Transition’.

Mr. Modi expressed happiness that in the renewable energy sector, within a short time, the progress from megawatts to gigawatts in generation capacity and ‘One Sun, One World, One Grid’, are becoming a reality. He pointed out that India’s generation capacity and the network is being expanded to ensure every citizen of India has to access to electricity to unlock his full potential. Today, India’s renewable power capacity is the 4th largest in the world and is growing at the fastest speed among all major countries; the RE capacity is currently 136 GW, which is about 36 percent of our total capacity.

Role of policies in energy efficiency

Prime Minister Modi also stated that India’s annual RE capacity addition has been exceeding that of coal-based thermal power since 2017. He said that in the last six years, India has increased installed RE capacity by two and a half times. He said investing in renewable energy early on, even when it was not affordable, has helped in achieving the scale, which is bringing costs down. India is showing to the world that sound

environmental policies can also be sound economics, he added. The government has ensured energy efficiency is not limited to one ministry or department, instead, it has been made a target for the entire government. All government policies have a consideration of achieving energy efficiency.

After the success of the Production Linked Incentives (PLI) in electronics manufacturing, the government has decided to give similar incentives to high-efficiency solar modules. He stressed that ensuring “ease of doing business” is government’s utmost priority and dedicated project development cells have been established to facilitate investors. India has huge RE deployment plans for the next decade and is likely to generate business prospects of the order of around $20 billion per year. The prime minister also invited investors, developers, and businesses to join India’s RE journey. “I am confident that this conference will have fruitful deliberations which will help India steer into a new energy future”, he further added.

R K Singh, Minister of Power, MNRE

The Minister of Power - New and Renewable Energy and Skills,

R.K. Singh, speaking at the event underlined India’s achievement in transforming the energy sector in the last five years. This includes a transition from energy-deficient to an energy surplus country, having the largest expansion of electricity to connect every hamlet, village and providing electricity connection to twenty-eight million households in eighteen months. He stressed that the rate of growth of renewable energy in India is one of the highest in the world.

“India has done exemplary work in the space of renewable energy and running the largest energy access expansion plan. We have connected every household, connected the whole country into one integrated grid and we are the only G20 nation which has been able to keep the temperatures within two degrees by its actions,” Mr Singh said, at the Chief Ministers' plenary session at the virtual summit.

“Renewable energy is becoming cheaper in India, and I would like to congratulate all chief ministers for the great work but the work is just beginning and we will need to collaborate to achieve our targets. We need to continue working towards enhancing renewable energy in power production,” he added.

Indu Shekhar Chaturvedi, Secretary, MNRE for the country, building cleantech industries for India and helping industrial decarbonisation strategies,” he added.

Upendra Tripathy, Director General, International Solar Alliance

One Sun One World One Grid (OSOWOG) is also a strategy that India continues to push for at an international level. Upendra

Tripathy, Director General - International Solar Alliance (ISA)

emphasized India’s role in the world and the work that ISA continues to nurture globally. “At the COP26 next year, we plan to bring out a Glasgow charter not just for OSOWOG but also for World Solar Bank. ISA is happy to play a big role in building this together” he said.

Indu Shekhar Chaturvedi,

Secretary, MNRE believed that the virtual RE-INVEST held with Confederation of Indian Industry (CII) as the industry partner, has helped to understand the depth and outcomes of the collective effort involving global stakeholders. “Many great learning experiences, new ideas and facts that will drive the way forward for renewable energy in India and globally.”

Amitabh Kant, CEO, Niti Aayog

Amitabh Kant, CEO - Niti Aayog

said that India can leapfrog in the field of industrial decarbonisation only if we work hard towards it. This will help us move from being a passive recipient to an active driver in global cleantech and become a global champion in this domain. “Solar power will be a game-changer

Chief ministers' plenary session

Vijay Rupani, Chief Minister, Gujarat

Highlighting the achievements of the State of Gujarat, Chief Minister Vijay Rupani, said that Gujarat has been a pioneer in the space of RE, and in the last three years, the capacity of RE has increased considerably despite challenges. “We found solutions by involving people and appropriate partners and companies creating a win-win situation for renewable energy.” He informed that Gujarat has given subsidies to 55000 people to install solar panels and has a vision of achieving 5000 MW solar, and bringing solar energy to agriculture.

Ashok Gehlot, Chief Minister, Rajasthan

Resonating the thoughts,

Rajasthan Chief Minister Ashok

Gehlot, said “Rajasthan is the 2 nd largest State in terms of investments in solar energy projects. When we started 20 years ago, the cost of renewable energy was `16 and now it is `2 per unit. This is sure to reduce further. We have to work towards renewable energy and climate change”. He said that incentives have been extended to the investors in terms of reduction in stamp duty, easy availability of land, ten years’ electricity charge-free, 90 percent subsidy in GST, etc.

Jairam Thakur, Chief Minister, Himachal Pradesh

Himachal Pradesh Chief

Minister, Jai Ram Thakur, said “Himachal Pradesh is a small State, but we are making all efforts to harness our renewable energy potential. Our target is to accomplish 24,000 MW of renewable power. So far, we produce 10,000 MW of hydropower and plan to double these numbers in the next decade.”

Shivraj Singh Chouhan, Chief Minister, Madhya Pradesh

Shivraj Singh Chouhan, Chief

Minister of Madhya Pradesh, said that India is an ideal country for RE. “With Madhya Pradesh being a centrally located State, it has a lot of possibilities and can supply renewable power to neighbouring States if needed. About 37,000 circuit transmission lines and service stations are being set up in the State,” he said, adding – “Madhya Pradesh is planning a 15,000 MW solar project, the cost of which is `5000 crore. Besides starting work on power transmission, we have also started survey work for some other innovative RE projects, like floating solar, etc., in the State. ‘Atmanirbhar Madhya Pradesh’ plan is being developed and renewable energy will play an important role.”

Yogi Adityanath, Chief Minsiter, Uttar Pradesh be commissioned soon. “KUSUM scheme for farmers is an ambitious program and UP has made plans to implement this program in the State.” Talking about investorfriendly policies, he said that policy provides open-access and online single-window entry for projects and parks. “By 2022 we plan to increase our solar energy capacity by 10,700 MW out of his 6000 MW will be for utilities and 4000 MW for rooftop solar.”

Radha Krishna Mathur, Lt. Governor, Union Territory Ladakh

Speaking about the renewable energy potential of the newly formed Union Territory of

Ladakh, Radha Krishna Mathur,

Lt. Governor, Ladakh, said: “Ladakh has been envisioned to become a carbon-neutral Union Territory and renewable energy will play an important role in this regard. In the various assessments done Ladakh has a potential of 30 GW of solar, 5 GW of wind, 2 GW of hydro, and 300 MW of geo-thermal, as a beginning, a 10,000 MW project in the first phase, and to support it a strong transmission infrastructure is also being planned.”

The forum also included a two-day virtual conference on RE choices and an exhibition of developers, manufacturers, innovators, and investors involved in the clean energy sector.

Yogi Adityanath, Chief Minister

of Uttar Pradesh, informed that producers have plans to set up 12000 MW of solar energy parks in UP. Two plants of 600 MW each to be set up in Jhansi, will

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