Gandhinagar, September 16, 2024 – Hon’ble Prime Minister, Shri Narendra Modi, underscored India’s unique position as a global leader in the 21st century, highlighting its diversity, scale, and potential, as he addressed the 4th edition of the Global Renewable Energy Investors Meet and Expo (RE-INVEST 2024) in Gandhinagar today.
Speaking to an audience of international investors and stakeholders in the renewable energy sector, PM emphasised that India’s 140 crore citizens are determined to propel the country to become the world’s third-largest economy. “When the history of the 21st century is written, India’s Solar Revolution will have its own golden chapter,” the Prime Minister remarked.
Reflecting on his government’s achievements during the first 100 days of his third term, PM Modi said, “In these 100 days, we have addressed multiple sectors and initiated rapid progress. Our aim is not just to reach the top but to create a strong foundation for sustained development for the next 1,000 years. The speed, scale, and priorities of our work are visible in every step we take.”
Recognising India’s vast energy needs on its path to becoming a developed nation by 2047, the Prime Minister emphasised the country’s strategic pivot towards renewable energy, including solar, wind, nuclear, and hydropower. “India may lack its own oil and gas reserves, but we are building our energy future on the strength of clean and sustainable sources,” he stated.
The Prime Minister reiterated the government’s commitment to achieving net-zero emissions, emphasising that green energy is not a luxury but a necessity for India. As part of this commitment, he announced plans to develop Ayodhya and 16 other cities as model solar cities. “For us, achieving a green future and net zero isn’t just a slogan—it is a critical national requirement,” he said.
The Prime Minister also highlighted key government initiatives aimed at bolstering the green energy sector. These include a ₹7,000 crore viability gap funding scheme for offshore renewable energy projects and an approval of more than ₹12,000 crore for hydro power projects generating 31,000 MW. “The world sees India as the best bet for the 21st century,” he added.
Touching upon the scale of his administration’s efforts, the Prime Minister shared the success of his housing initiatives, revealing that of the seven crore homes promised to the underprivileged, four crore had already been delivered during his second term in office. He also announced a ₹1 trillion research fund dedicated to breakthroughs in electric mobility and high-performance bio-manufacturing.
As India races toward its renewable energy target of 500 GW, the Prime Minister pointed out the success of the ‘PM Surya Ghar Muft Bijlee Yojana,’ a rooftop solar scheme designed to transform households into energy producers. So far, 13 million families have registered under the scheme, with 3.25 lakh households already having installed solar rooftops.
“India is the only G20 nation to have met its Paris Agreement climate commitments nine years ahead of schedule. We have achieved what many developed nations could not,” the Prime Minister noted, further emphasizing India’s leadership in climate action.
The 4th edition of RE-INVEST 2024 features over 40 sessions, including a Chief Ministerial Plenary, CEO Roundtable, and various technical discussions, making it a vital platform for investors and policymakers alike to explore India’s renewable energy potential.
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As the world looks to India for leadership in the green energy space, Prime Minister Modi’s message was clear – India is not just aiming for the top, but is laying the groundwork for a sustainable, long-term future.