PM Modi Opens 4th Global Renewable Energy Investor's Meet in Gandhinagar
Prime Minister Narendra Modi inaugurated the 4th Global Renewable Energy Investor’s Meet and Expo (RE-INVEST) at Mahatma Mandir in Gandhinagar, marking a significant event in India’s renewable energy sector.
In his address, Modi emphasized that the aspirations of the Indian people were a driving force behind the government's re-election for a third term. He highlighted that marginalized communities such as the poor and dalits see this government’s third term as a promise for a dignified life. Modi underscored that the event was not merely an isolated occurrence but part of a broader vision and action plan aimed at transforming India into a developed nation by 2047.
Modi reviewed the achievements of the government during the first 100 days of its latest term, noting that these initial actions reflect the administration’s priorities and set the pace for India’s rapid development. He pointed out that the government has focused on advancing both physical and social infrastructure. In particular, Modi mentioned the ambitious plan to build 7 crore houses, surpassing the populations of many countries, with 4 crore houses already distributed in the previous terms.
The Prime Minister also highlighted recent advancements in the green energy sector, including the launch of a viability gap funding scheme for offshore wind energy projects, valued at over Rs 7,000 crore. Additionally, India is progressing towards generating 31,000 megawatts of hydropower with an investment of Rs 12,000 crore.
In his speech, Modi celebrated Gujarat’s historical role in the green energy revolution, noting that the state was the first in India to implement a Solar Policy. He also praised Gujarat’s early adoption of solar energy initiatives, even before they were considered globally. Modi remarked that Gujarat’s proactive approach included setting up a dedicated ministry for climate-related issues long before other regions.
The Prime Minister lauded India’s achievement as the first G20 nation to meet its climate commitments set in the Paris Agreement, and that too, nine years ahead of schedule. He outlined the nation’s target to reach 500 gigawatts of renewable energy capacity by 2030 and emphasized that the green transition had become a mass movement in India.
Modi introduced India’s PM Surya Ghar Free Electricity Scheme, a unique initiative where the government funds rooftop solar setups for households, allowing every home to become a power producer. He revealed that over 1.3 crore families had registered for the scheme, with installation completed in 3.25 lakh houses so far.
The Prime Minister reiterated India’s commitment to sustainability, noting that despite being a developing economy, India chose not to evade its climate responsibilities. He expressed the nation’s intent not only to reach the top but to ensure long-term sustainability. Modi emphasized that India’s future energy strategy is based on renewable sources like solar, wind, nuclear, and hydro power, given the scarcity of oil and gas reserves.
Modi also addressed the increasing demand for renewable energy in India, stating that the government is developing new policies to meet this demand and is committed to supporting the sector. He highlighted India’s efforts to provide 'Made in India' solutions and create numerous opportunities for growth and better returns.
The RE-INVEST conference serves as a platform for global investors and industry leaders to explore opportunities in India’s burgeoning renewable energy market. The event underscores India’s commitment to green energy and its role as a key player in the global transition towards sustainable energy solutions.
