Enhancing Investments and Advancements in Real Estate Industry for 2024
In September 2024, the 4th Global Renewable Energy Investment Meet & Expo (RE-INVEST) took place at Mahatma Mandir, Gandhinagar, Gujarat. Organised by the Ministry of New and Renewable Energy (MNRE), Government of India, in partnership with the Confederation of Indian Industry (CII) and IREDA, the event attracted over 25,000 delegates, including 250 international delegates, 363 companies, and 250 speakers.
RE-INVEST, a flagship event of the Government of India, has been held previously in 2015, 2018, and 2020. This year's event was particularly significant as it demonstrated India's commitment to sustainable development and innovation in the renewable energy sector.
The government of India is aiming to achieve 500GW energy through renewable energy by 2030 and net-zero emissions by 2070. To achieve these goals, there is an urgent need to recycle and reuse waste material in the renewable energy sector to shift towards a circular economy and increase resource efficiency.
India is at the forefront of the country's energy transition goal, with its potential for onshore and offshore wind projects being significant. The goal is to reach 100 GW by 2030. India ranks fifth in solar power capacity and plans to reduce the cost of energy transition through innovative cell technology.
India has committed to implementing the National Hydrogen Mission, the Production Linked Incentive (PLI), and FAME scheme to promote sustainable development and innovation in the renewable energy sector. The government aims to overcome bottlenecks and adopt hydrogen at scale to reach the goal of 5 MMT under the National Green Hydrogen Mission by 2030.
The renewable energy sector in India is growing, and RE-INVEST complements this expansion. Financial instruments like green and ESG bonds, InvITs, and other hybrid products are being proposed to finance the renewable energy sector and recycle capital. RE-INVEST positions India as an attractive destination for investments in the renewable energy sector.
Moreover, India aims to create 3.4 million jobs by 2030 through its development of solar and wind energy alone. Women's participation in the renewable energy sector workforce is a priority, and the global renewable energy revolution can be led by India through its efforts in the renewable energy sector.
The achievement of 200 GW of non-fossil power capacity indicates a pathway towards reaching 500 GW by 2030, but collaboration with other states and global leaders, green investments, and supportive policies are necessary. The success of RE-INVEST 2024 underscores India's commitment to leading the global renewable energy revolution.
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