Ministry of New and Renewable Energy 13-February, 2015 16:00 IST
PM To Inaugurate First Renewable Energy Global Investors Meet On Sunday; Over 2500 Delegates and Exhibitors from 45 Countries To Participate In The Three Day Event;

Piyush Goyal Says RE-INVEST Aims To Project India As An Attractive Investment Destination And To Evolve Innovative Financial Models.

The Prime Minister Shri Narendra Modi, will inaugurate the first Renewable Energy Global Investors Meet & Expo, Re-invest 2015 on the 15th February (Sunday) at 10.30 am in Vigyan Bhawan, New Delhi. The Minister of State (I/C) for Power, Coal & Renewable Energy, Shri. Piyush Goyal and the Minister of State (I /C) for Commerce & Industry Ms. Nirmala Sitharaman will also grace the occasion. The venue of the three day global meet, organized by Ministry of New and Renewable Energy (MNRE) will be Hotel Ashok, New Delhi.

Elaborating the details of Reinvest 2015 at a news conference here, the Minister of State (I/C) for Power, Coal & Renewable Energy, Shri. Piyush Goyal said the aim of the event is to evolve innovative financial models for funding and to ensure the partnership of states and the Centre in harnessing renewable energy. It will also showcase the Government of India's commitment to the development and scaling up of renewable energy to meet the national energy requirement in a socially, economically and ecologically sustainable manner.

Shri Piyush Goyal said the government is looking at embedding rooftop power, off- grid power in new buildings and embedding green energy features in Building Code. He said the renewable energy industry would be able to stand on its feet in next three years and would not need any subsidy.  The Minister said Re- Invest will be a platform to engage various stakeholders and to have a clear understanding of the difficulties faced by them.

Reinvest 2015 will include several sessions headed by senior representatives from the renewable energy industry, equipment manufacturers, global financial institutions, Public Sector Enterprises, regulatory authorities, Central and state governments, research institutions and academia. After the inauguration, there will be a session to deliberate and evolve success strategies for financing Renewable energy, which will be chaired by
Chief Economic Adviser Shri Arvind Subramanian and will include prominent environmentalist and scientist Dr. R K Pachauri, and CMDs & CEOs of major banking and financial institutions from India and abroad. The afternoon sessions of the day will be on the key policy interventions and support mechanisms to incentivize domestic production & also Renewable Energy manufacturing for exports, Renewable Energy Roadmap 2030 and Investment opportunities in Bio-Energy in India. Secretaries from Government of India and Heads of International Agencies like International Energy Agency, International New & Renewable Energy Agency and also of MNCs will be participating in these sessions. 

The second day will start with a session on India as a New Investment Destination for Renewable Energy which will be chaired by Union Minister for Renewable Energy Shri. Piyush Goyal, and will have participation of dignitaries from World Bank, United Nations, and many foreign Governments as well as Non-Governmental Agencies. Another session chaired by Shri. Suresh Prabhu, Union Minister of Railways, will be to showcase the policy incentives by states. The afternoon sessions will be chaired by Dr. Harsh Vardhan, Union Minister of Science and Technology and Earth Sciences and also by Secretaries to Government of India. It will be attended by representatives of international financial institutions, foreign Ministers and CEOs of several Multi National Companies. Sessions on “Different country experiences,” “Equity perspective on financing renewables” and “Sustainable renewable energy storage” are scheduled. The Asian Development Bank, United States Agency for International Development, British High Commission, Bridge to India and several Banks will also be participating.

The final day will start with simultaneous sessions on Innovative Financing Models; Grid connected Wind Power, Approaches to tackle high costs of capital in RE Financing chaired by Secretaries to the Govt. of India, and heads of International Organisations. On the same day, a CEOs Roundtable chaired by Union Minister Shri Piyush Goyal will be conducted. Union Minister of Urban Development, Shri Venkaiah Naidu will chair a conference on showcase of policy incentives by states.

In the valedictory session there will be a panel discussion chaired by the Union Finance Minister Shri. Arun Jaitley and the panel will include Union Ministers Shri. Piyush Goyal, Shri. Suresh Prabhu, Shri. Prakash Javadekar,   Chief Economic Advisor Shri. Arvind Subramanian and NITI Aayog Vice Chairman Shri Arvind Panagariya.

 RE-INVEST 2015 will be the first major platform for investment promotion in this sector to connect the global investment community with the renewable energy stakeholders in India. Over 2500 delegates including exhibitors from 45 countries will be attending this event.

Government Initiatives in Renewable Energy Sector:-

 The government plans to accelerate the deployment of renewable energy to more than 160 GW by 2022 including 100 GW solar energy and 60 GW wind energy. Increased focus is being given on small hydro, bio energy, new and emerging technologies. The government also aims setting up RE manufacturing bases in the country and establishment of RE University and creating multiple job opportunities.

 

Giving a fillip to the country’s renewable energy programme, the government has taken a slew of decisions in the last few months to boost “Clean Energy” in the country.  In order to facilitate the speedy growth of Renewable energy Power generation in the country, the Ministry of New and Renewable Energy (MNRE) is preparing a Renewable Energy Bill. There are several schemes in pipeline which include providing support of Rs 1000 crore to Central Public Sector units to set up over 1,000 MW grid connected solar photovoltaic power projects, setting up of over 300 MW of  Grid-Connected Solar PV Power Projects by Defence, Ultra Mega Solar Power projects in Rajasthan, Gujarat, Tamil Nadu and Ladakh, 25 solar energy projects with 20,000 MW capacity to be developed by 2019 and setting up of over 300 MW of solar power projects by Defence and Para military establishments. The  Government  has also approved the Scheme for setting up of 1000 MW of Grid-Connected Solar PV Power Projects with VGF (Viability Gap Fund) support of Rs.1000 crore, in three years period from 2015-16 to 2017-18.

The Union Government had restored Accelerated Depreciation benefit in the Union Budget 2014 to give the much-needed relief to wind power developers and to ensure ramp-up of production The Government approved continuation of: (i) National Biogas and Manure Management Programme (NBMMP), (ii) Scheme to Support Promotion of Grid-Interactive Biomass Power and Bagasse Co-generation in Sugar Mills, (iii) Programme for the Development of Small Hydro Power, and (iv)Off-grid and Decentralized Solar Applications under JNNSM, during the 12th Plan period. The Government amicably resolved the anti-dumping duty dispute. A whole host of measures have been undertaken to make India a “Solar manufacturing hub” with priority for domestic players in line with “Make in India” programme.

 

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RM/JP/ND/PS

 


(Release ID :115428)