Domestic demand 36 GW of indigenous solar cell and modules over 3 years
Prime Minister Narendra Modi has invited investors, developers and businesses to join India’s US$20 billion a year of renewable energy projects to be undertaken over the next decade.
“There are huge renewable energy deployment plans for the next decade. These are likely to generate business prospects of the order of around 1.5 lakh crore rupees or 20 billion dollars per year,” said the Prime Minister at the 3rd Global Renewable Energy Investment Meeting and Expo (RE-Invest 2020) through video conferencing.
“This is a big opportunity to invest in India. I invite investors, developers and businesses to join India’s renewable energy journey,” he said.
Today, every village and almost every household in India has access to electricity. Tomorrow, their energy demand will increase. Thus, demand for energy in India will keep growing, he said.
The demand for domestically manufactured solar cells and modules is likely to be around 36 Gigawatt over the next three years, Modi told delegates at the conference.
“Our policies are in line with the technology revolutions. We are proposing to launch a comprehensive National Hydrogen Energy Mission,” he announced.
After the success of the Production Linked Incentives (PLI) Scheme in electronics manufacturing, the Government is extending similar incentives to high-efficiency solar modules. Ensuring “Ease of doing business” is our top priority.
“We have established dedicated Project Development Cells and FDI cells in all Ministries to facilitate investors,” he highlighted.
The Re-Invest 2020 connects the renewable energy stakeholders in India with the best of the global industry, policymakers and academia, said the Prime Minister.
India has a renewable energy capacity of 136 gigawatts, which is about 36% of India’s total electricity capacity of 369.12 GW. The plan is to raise the renewable installed capacity to 40% of the total electricity generation in the country. #OPEC #IEA #energy #renewables #projects #investments #tenders /fiinews.com
