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Opinion

India’s Renewable Energy Capacity Is The Fourth Largest In The World, Says Prime Minister Modi At RE-Invest 2020

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Prime Minister Narendra Modi during his speech at RE-Invest 2020 on Thursday said that India in the past 6 years has increased its installed renewable energy capacity by two and a half times and that the country’s renewable energy capacity is the fourth largest. of the world.

“You will be pleased to know that our annual renewable energy capacity has surpassed that of coal-based thermal energy since 2017. In the last 6 years, we have increased our installed renewable energy capacity by two and a half times,” said the prime minister. .

Later in his speech, Prime Minister Modi said that for the next 10 years, India has huge renewable energy deployment plans that are likely to generate business opportunities of $ 20 billion per year.

“Today, India’s renewable energy capacity is the fourth largest in the world. It is growing at the fastest rate of any major country. The renewable energy capacity in India is currently 136 Giga Watts, which is about 36% of our total capacity, ”said PM Modi.

The prime minister spoke at the virtual 3rd Global Renewable Energy Investment Meeting and Exhibition (RE-Invest 2020), a 3-day summit organized by the Ministry of New and Renewable Energy.

“There are huge renewable energy deployment plans for the next decade. These are likely to generate business prospects on the order of $ 20 billion a year. I invite investors, developers and companies to join India’s renewable energy journey, ”he added.

Prime Minister Modi further said that India is a perfect example of sound environmental policies that have also proven to be a strong economy. “Even when it wasn’t affordable, we invested in renewable energy. Now our investment and scale are reducing costs. We are showing the world that strong environmental policies can also be a strong economy, ”said the prime minister.

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