The 3rd Global Renewable Energy Investment Meeting and Expo (RE-Invest 2020) was recently conducted.
Context
- The 3rd Global Renewable Energy Investment Meeting and Expo (RE-Invest 2020) was recently conducted.
Key-highlights of the Summit
- Organizer: The three-day summit has been organised by the Ministry of New and Renewable Energy.
- Theme: The theme for RE-Invest 2020 is ‘Innovations for Sustainable Energy Transition’.
- The central aim of RE-Invest is to attract large scale investments for the renewable energy sector in India.
- The objective of RE-Invest is to become the first major platform for investment promotion. This will enable the global investment community to connect with renewable energy stakeholders in India.
Origin
- The Summit was initiated in 2015, as a follow-up to the ‘Make in India’
- The previous two editions of the summit were held in 2015 and 2018.
India’s renewable power capacity
- India’s renewable power capacity is the 4th largest in the world.
- The renewable energy capacity in India is currently 136 Giga Watts, which is about 36% of our total capacity.
- FDI up to 100% under the automatic route is permitted in renewable energy sector.
- For next 10 years, India has huge renewable energy deployment plans which will likely generate business opportunities of 20 billion dollars per year.
