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Global Renewable Energy Investment Meeting and Expo

Topics Covered: Conservation related issues.

Global Renewable Energy Investment Meeting and Expo:


Context:

3rd Global Renewable Energy Investment Meeting and Expo (RE-Invest 2020) was inaugurated recently.

  • The summit is organised by the Ministry of New and Renewable Energy.
  • The theme for 2020 is ‘Innovations for Sustainable Energy Transition’.

How is India performing on this front?

  • India’s renewable power capacity is the 4th largest in the world and is growing at the fastest speed among all major countries.
  • The renewable energy capacity in India is currently 136 Giga Watts, which is about 36% of our total capacity.
  • India’s annual renewable energy capacity addition has been exceeding that of coal based thermal power since 2017.
  • In the last 6 years, India has increased installed renewable energy capacity by two and half times.

Overall, India has shown to the world that investing in renewable energy early on even when it was not affordable has helped in achieving the scale, which is bringing costs down. Sound environmental policies can also be sound economics.

indian_gov

Sources: the Hindu.