The nation is committed to creating a sustainable energy route going forward, according to Prime Minister Narendra Modi, who stated on Monday that the future is being secured by solar, wind, nuclear, and hydropower.
PM Modi stated that India is laying the groundwork for the next millennium in his speech on the opening day of the 4th Global Renewable Energy Investor’s Meet (RE-INVEST) 2024.
“Staying at the top is our goal, not climbing the ladder. Not only do Indians believe that India is the best investment of the twenty-first century, but so does the entire globe. Following the earlier this month’s Global Fintech Fest, a worldwide festival celebrating solar energy drew participants from all over the world. Following the Global Semiconductor Summit, which attracted people from all over the world, we are now assembled here to talk about the future of green energy, according to PM Modi.
“We are neither energy producers, nor do we possess enormous quantities of gas and oil. We have therefore concentrated on nuclear, hydropower, wind, and solar energy in order to safeguard our future. We’re committed to creating a future powered by renewable energy,” he declared.
The PM Modi gave a brief overview of the initiatives being taken to meet the 2030 deadline of 500 GW. “We are at the top of the G20 countries. He declared, “The nation that was previously unrecognized as developed will now serve as a model for the rest of the world as a developing one.”
The RE-INVEST, he claimed, is not a stand-alone initiative but rather a component of a broader goal and action plan to transform India into a developed country by 2047.
In the first 100 days of our third term, decisions made for hundreds of districts have demonstrated how we are going about doing this. Our objectives for these 100 days are evident, and they represent our skill and scale. We have tackled every industry and every field that is essential to India’s swift development in this time. For the sake of expanding the social and physical infrastructure, several important decisions have been made, according to PM Modi.
“We’ve made significant decisions to support green energy in the past 100 days,” stated the Prime Minister, highlighting the welfare measures of the central government in the first 100 days of the third term. Under the Vibrant Gas Funding Scheme, we have introduced the Offshore Green Energy Policy, for which we intend to allocate more than Rs 7,000 crore. India is also developing 31,000 megawatts of hydropower, with an estimated expenditure of around Rs 12,000 crore.”
In the last 100 days, over five new high-speed, safe, Made in India trains have been introduced, according to the approved High-Speed Road Corridor Projects. “We have also declared a plan to enhance electric transportation,” he stated.
Hosted by the Ministry of New and Renewable Energy (MNRE) in Gujarat’s Gandhinagar district, the Prime Minister officially opened the three-day Global Renewable Energy Investor’s Meet (RE-INVEST) 2024 earlier today.
Additionally in attendance were Chief Ministers of Goa, Pradesh, Madhya Pradesh, Chhattisgarh, Andhra Pradesh, Rajasthan, Andhra Pradesh Chief Minister N Chandrababu Naidu, Union Minister for New and Renewable Energy Pralhad Joshi, and Madhya Pradesh Chief Minister Mohan Kumar Yadav.
Pralhad Joshi, who spoke occasionally, praised the Prime Minister’s leadership for helping India emerge as a global leader in renewable energy.
Not only is India’s economy the fastest-growing in the world, but it is also the fifth largest. India is leading the way in promoting sustainable energy under PM Modi’s direction. PM Modi was instrumental in promoting renewable energy when serving as Gujarat’s chief minister. Gujarat became the industry leader in green energy under his direction. Joshi stated that after taking office as India’s prime minister, he made it his duty to make the world a cleaner, more sustainable place.
The renewable energy goals of India
PM Modi
Prime Minister Modi presented the nation’s climate action plan during the 26th Conference of the Parties (COP26) in Glasgow in 2021. This included obtaining 500 GW of non-fossil energy capacity by 2030, fulfilling 50% of the nation’s energy needs from renewable sources by 2030, and attaining net zero emissions by 2070.
Since then, India has installed a significant amount of renewable energy capacity, ranking fourth in the world in 2022, according to the Climate Action Tracker.
Together with France, India developed the International Solar Alliance (ISA) as a component of its climate initiatives. The idea for it originated during the United Nations Framework Convention on Climate Change (UNFCCC) side events in Paris in 2015. With 119 nations having signed the ISA Framework Agreement, it is an intergovernmental organization founded on treaties with 99 member countries.
With its headquarters located in India, the ISA seeks to improve energy access, provide energy security, and facilitate the energy transition in its member nations by utilizing more solar energy technologies. It aims to raise $1,000 billion in funding for solar energy implementation by 2030.
As of August 2024, India’s installed solar energy capacity stood at 89.4 GW, up 30 times in the previous 9 years, according to government figures. Comparably, official data indicated that the installed capacity of wind power was 47.19 GW, small hydro power was 5.07 GW, and large hydro power was 46.92 GW.
Only on JioSaavn.com can you listen to the newest tracks.
Notably, India is the only country in the Group of Twenty to have met the climate targets set forth at the 2015 climate conference in Paris ahead of schedule.
The objective to lower the emissions intensity of its GDP from the level of 5% in 2005 to 45% by 2030 was increased in India’s 2022 update to its Nationally Determined Contributions (NDCs), or climate targets.