First Renewable Energy Global Investors Meet & Expo, RE-Invest 2015, held in New Delhi

The first Renewable Energy Global Investors Meet & Expo, also called RE-Invest 2015, was held in New Delhi from 15 February 2015 to 17 February 2015. The meet was organised by the Union Ministry of New and Renewable Energy as a follow-up to the Make in India initiative of the Prime Minister.

The central theme of RE-Invest is to attract large scale investments for the renewable energy sector in India.

The aim of the meet is to evolve innovative financial models for funding and to ensure the partnership of states and the Centre in harnessing renewable energy. Germany is the partner country for Re-Invest 2015.

Key highlights of Re-Invest 2015

• It showcased the Union Government’s commitment in the development and scaling up of renewable energy in a socially, economically and ecologically sustainable manner to meet the national energy requirement.

• It provided single platform to attract large scale investments for solar and wind power generation in India.

• On the occasion, 14 banks and financial institutions, 8 PSUs and private manufacturers, 15 private sector companies gave their Green Energy Commitments to the Ministers.

• Green Energy Commitments worth 266000 MW were received during the conference. 2800 delegates from 42 countries participated in the event.

• 200 global investors providing financing and investment solutions also participated. 9 states showcased their policy initiatives in the renewable energy sector.

Renewable Energy in India

At present, renewable energy contributes over 6 percent of the total power generated in India. Union government is planning to double its share to 12 percent with an investment of 100 billion US dollar over the next four-five years.

To increase the share of renewable energy, Union Government has revised the target of solar power generation from 20000 MW by 2022 to 100000 MW by 2020.