Prime Minister Narendra Modi is set to inaugurate the first Renewable Energy Global Investors Meet and Expo, Re-invest 2015 in New Delhi on Sunday.
Prime Minister Narendra Modi inaugurated the first Renewable Energy Global Investors Meet and Expo, Re-invest 2015 in New Delhi on Sunday. The Expo seeked to evolve innovative financial models for funding and aims to promote the partnership between the states and the Centre in harnessing renewable energy.
Inaugurating the first Renewable Energy Global Investors Meet (RE-Invest), Modi called for collaboration between the 50 nations with abundant solar power to develop technological solutions. Stating that the role of energy in development was very important, he said, "We want to increase speed and at the same time scale new heights of development and one of the sectors is energy."
The meet showcased the government's commitment to the development of renewable energy and help attract large scale investments for solar and wind power generation in the nation.
He spoke about the scale of renewable energy "When we talk of energy we usually talk about megawatt, today we are talking about gigawatt. This is a big thing."
Modi stressed upon the importance of energy sector and spoke about what the Centre's ambition in that area, "The role of energy in the development of humankind is very important. We want to increase speed and at the same time scale new heights of development & one of the sectors is energy."
He said that the motive behind using renewable energy was to empower the poor. "We are focussing on renewable energy not for laurels but to lighten the homes of the poor, bring a change in their lives.
Drawing from his experience as the Chief Minister of Gujarat when solar panels were installed above water canals to not just generate electricity but also to cut water evaporation by 40 per cent, Modi said solar energy can be used to power irrigation pumps and increase crop productivity through micro irrigation. "We are focussing on renewable energy not for laurels but to lighten homes of the poor and bring a change in their lives," he said. "We have ponds, can we think of solar panels on top of these ponds? We need to think of innovative ideas."
"We have ponds, can we think of solar panels on top of these ponds. We need to think of innovative ideas," he said.
He added saying that conserving energy is as important as using renewable source of energy. "Conserving energy is the need of the hour."
PM Modi said that the Centre and the states will work jointly on bringing renewable energy in India.
He said the cost of electricity from solar photovoltaic cells has come down from Rs 20 per unit to Rs 7.50 and research and innovation can help bring it down further. Hybrid power generation involving solar and wind energy should be encouraged as it will help save on transmission and power evacuation infrastructure cost, he said.
Modi also called for developing domestic manufacturing of renewable energy equipment to create jobs. Conserving energy, he said, is the need of the hour. "The more energy we save, the more we can save the next generations. Energy can be saviour of generations."
Analysts have stated that achieving the 100 gigawatt (GW) solar energy goal by 2022 could create as many as one million jobs, while greatly improving energy access for Indian citizens and fighting climate change.
Achieving India's proposed target of 60 GW of wind energy by 2022 would also generate an additional 1,80,000 jobs.
With agency inputs
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