First assembly of International Solar Alliance and it’s key message- 2nd Global REINVEST Summit

The second Global Renewable Energy Investment Meeting and Expo (2nd REINVEST- 2018) was organised by Ministry of New and Renewable Energy in Noida from October 3 to 5, 2018. It was inaugurated by Prime Minister Narendra Modi in the presence of Secretary General of United Nations Antonio Guterres. 2nd Global RE-INVEST also hosted First Assembly of International Solar Alliance (ISA) and Meeting of the Energy Ministers of Indian Ocean Rim Association(IORA).

This humongous event of 2nd RE-INVEST primarily focused on Conference on renewables, cleantech and future energy choices and expo of renewables-related manufacturers, developers, investors and innovators. The power packed technical sessions saw industry experts, corporates and sector players discussing the opportunities and challenges held by the Renewable Energy sector. The innovative ideas for storage solution in Renewable,policy requirements for installation of solar rooftops, awareness among customers about rooftop technology were all discussed by the panelists.

The aim of this programme was to accelerate worldwide effort to scale up renewable energy and connect global investment community with Indian energy stakeholders. It was built upon success of RE-Invest 2015 and was organized by Ministry of New and Renewable Energy (MNRE).

It is one of the best feasible platform to facilitate collaboration and cooperation with key stakeholders in India, which have emerged as one of the world’s largest renewable energy markets. Nevertheless it has provided great opportunity to various organisations to showcase their business strategies, achievements and expectations.

India accounts for approximately 4 per cent of the total global electricity generation and contributes 4.43 per cent to the global renewable generation capacity.The International Energy Agency’s World Energy Outlook projects a growth of renewable energy supply to 4,550 G W in 2040 on a global basis.

As of February 2018, total renewable power generation installed capacity in the country stood at 107.81 G W, which is 32.26 per cent of the total installed capacity of 334.15 G W. A hydro power revival policy is underway which amongst others is likely to include the classification of all hydro power projects as renewable energy. Technological innovation, cost efficiencies, and increasing consumer demand are driving renewables—particularly wind and solar—to be preferred energy sources.

Global trends are intact with India’s goals too. Today renewable energy specially solar energy is recognized as a mainstream source of energy and rapidly gaining more preference. Ministry of New And Renewable Energy and ISA which is a fast forward initiative by all it’s member countries have jointly taken a leap forward for India’s renewable energy dream for the world and India.