“India preparing for next 1000 years, determined to build a sustainable energy path forward”: PM Modi

Prime Minister Narendra Modi on Monday said that the country is determined to build a sustainable energy path forward and that the focus is on solar power, wind power, nuclear, and hydropower to secure the future.

Addressing the inaugural day of the 4th Global Renewable Energy Investor’s Meet (RE-INVEST) 2024, PM Modi said that today’s India is preparing a base for the next 1000 years.

“Our aim is not to reach the top but to remain on top. Today, not only Indians but the entire world feels that India is the best bet of the 21st century. Global Fintech Fest was organised earlier this month, after which people from all over the world participated in the first solar international festival. Then people from every corner of the world came to the Global Semiconductor Summit and now today we are gathered here to discuss the future of Green Energy,” PM Modi said.

“We don’t have vast reserves of oil and gas, we are not energy producers. Therefore, we have focused on solar power, wind power, nuclear, and hydropower to secure our future. We are determined to build a sustainable energy path forward,” he said.

The Prime Minister highlighted the efforts towards achieving the target of 500 GW by 2030. “Among the G20 nations, we are leading. The country that could not be seen as a developed nation before will now set an example for the world as a developing one,” he said.

He said that the RE-INVEST is not an isolated event but part of a larger vision and action plan to make India a developed nation by 2047.

“How we are doing this is evident in the first 100 days of our third term, visible in the decisions made for hundreds of districts. In these 100 days, our priorities are clear, and a reflection of our skill and scale is visible. During this period, we have addressed every sector and every area that is crucial for India’s rapid growth. Numerous significant decisions have been made for the expansion of physical and social infrastructure,” PM Modi said.

The Prime Minister emphasised the central government’s welfare initiatives in the first 100 days of the third term and said, “In the past 100 days, we’ve made significant decisions to support green energy. We have launched the Offshore Green Energy Policy under the Vibrant Gas Funding Scheme, where we plan to spend over Rs 7,000 crore. India is also working on generating 31,000 megawatts of hydropower, for which we will spend more than Rs 12,000 crore.”

“Looking at the approved High-Speed Road Corridor Projects, in the past 100 days, more than five new Made in India safety high-speed vande bharat trains have been launched. We’ve also announced an initiative to boost electric mobility,” he said.

Prime Minister inaugurated the three-day Global Renewable Energy Investor’s Meet (RE-INVEST) 2024, hosted by the Ministry of New and Renewable Energy (MNRE), in Gujarat’s Gandhinagar district earlier.

Union Minister for New and Renewable Energy Pralhad Joshi, Gujarat Chief Minister Bhupendra Patel, Andhra Pradesh Chief Minister N Chandrababu Naidu, Rajasthan Chief Minister Bhajanlal Sharma, Madhya Pradesh Chief Minister Mohan Kumar Yadav, Chhattisgarh Chief Minister Vishnu Deo Sai and Goa Chief Minister Pramod Sawant were also present on the occasion.

Speaking on occasion, Pralhad Joshi commended the Prime Minister’s leadership that has facilitated India to become a global leader in renewable energy.

“India is not only the fifth-largest but also the world’s fastest-growing economy. Under PM Modi’s leadership, India is championing the cause of clean energy. As the Chief Minister of Gujarat, PM Modi played a pivotal role in advancing renewable energy. Under his guidance, Gujarat emerged as the frontrunner in green energy sectors. Upon becoming the Prime Minister of India, he made it a global mission to create a cleaner and more sustainable world,” Joshi said.

Gujarat CM Bhupendra Patel said that under the leadership of PM Modi, Gujarat emerged as the leading state in the renewable energy sector and added that the state’s renewable energy policy and green hydrogen policy reflect the state government’s commitment to a green future.

“The installed capacity of renewable energy in Gujarat is over 50,000 megawatts, with renewable energy contributing 54 per cent to the state’s energy capacity. Gujarat leads the country in solar power installation,” he said.

He further stressed the mission to produce 3 MTPA (Million Tonnes Per Annum) of green hydrogen, positioning Gujarat at the forefront of the green hydrogen revolution in India. “Today, the state of Gujarat is emerging as a prime destination for investment in the green energy sector,” he added.

The central theme of RE-INVEST 2024 is Mission 500 GW, which underscores India’s strategic goal to expand its renewable energy capacity significantly by 2030. As the 4th largest country globally in installed renewable energy capacity, India aims to further consolidate its leadership in the global energy transition.

Key international partners for this year’s event include Australia, Denmark, Germany, and Norway. Additionally, Indian states such as Andhra Pradesh, Gujarat, Madhya Pradesh, Telangana, Rajasthan, Karnataka, and Uttar Pradesh will actively participate. High-level delegations from the US, UK, Belgium, the European Union, Oman, UAE, Singapore, and Hong Kong will also be in attendance, with some delegations led by ministers from Germany and Denmark.

The conference will feature an extensive agenda across 44 sessions, including a Chief Ministerial Plenary, a CEO Roundtable, and discussions focused on renewable energy innovations and opportunities specific to various countries and states. Noteworthy sessions will address the role of women in accelerating energy transitions and provide a platform for start-ups, including pitches by the ten winners of the Solar X Challenge.

RE-INVEST’s inaugural edition was held in February 2015 in New Delhi, followed by subsequent editions in October 2018 in Delhi NCR, and a virtual edition in November 2020.