Centre seeks commitment from States, investors ahead of major renewables expo

India aims to achieve its target of more than doubling clean energy capacity by the turn of the decade.

Centre has sought firm commitments from State governments in terms of specifying plans and targets relating to renewable energy, and proposed funding from investors.

Ahead of the 4th Global Renewable Energy Investors Meet & Expo (RE-INVEST 2024) slated from 16 to 18 September, Minister for New and Renewable Energy Pralhad Joshi a 'Shapath Patra' specifying targets will be sought from various governments. The combined commitments will be announced at the Re-Invest conference.

“The event will also have various State governments giving their firm commitments in the form of Shapath-Patra specifying their plans/targets for Renewable Energy sector. All major Banks, financial Institutions will also be giving Shapath Patra about their proposed loans/funding in Renewable Energy sector, apart from this the ShapathPatra will also be given by Developers, manufacturers, private equities investors, top vendors,” Pralhad Joshi said.

India aims to achieve its target of more than doubling clean energy capacity by the turn of the decade. The country has added over 100 gigawatts of renewables capacity under previous two NDA governments, taking up the share of renewable power to 46 percent of the installed capacity, compared to 31 percent in 2014.

Australia, Denmark, Germany and Norway are the partner countries for the Global RE-INVEST event, which will be inaugurated by Prime Minister Modi at Gandhi Nagar on 16th September. The German and Danish delegations will be led by their respective Ministers. Andhra Pradesh, Gujarat, Madhya Pradesh, Telangana, Rajasthan, Karnataka & Uttar Pradesh are the partner States for the event.

The conference is expected to see participation of over 10,000 delegates, with Chief Ministerial Plenary, CEO Roundtable among other sessions.