3rd Global RE-INVEST 2020 | UPSC
Prime Minister to inaugurate REINVEST- 2020 on 26 November 2020
WHY IN NEWS:
- Prime Minister Shri Narendra Modi will inaugurate the virtual 3rd Global Renewable Energy Investment Meeting and Expo (RE-INVEST 2020), on 26 November 2020.
- It will be held from 26 – 28 November 2020 on a Virtual Platform
SYLLABUS COVERED: GS 3: Energy
For PRELIMS go through aim , theme 2020 , key focus areas and the quick facts at the end of the article.
For MAINS it is important to go through the significance and the progress ; value chain in renewable energy of India. Let us dive in !
- Solar capacity has increased in the last 5.5 years from around 2.6 gw to more than 34 gw.
- World’s largest renewable energy expansion programme 175 gw till 2022
- Renewable energy has a share of 23.39% in the total installed generation capacity in the country i.E. 368.98 gw (upto 29th february, 2020).
- Solar power tariff reduced by more than 75% using plug and play model
- About 19 times higher solar pumps installed between 2014-19 | 2.25 lakh versus upto 2014 – 11,626
- Renewable energy installed capacity increased 226% in last 5 years
- Solar park scheme doubled from 20gw to 40gw
- The cheapest/record of low solar tariff rs 2.44/unit achieved in bhadla, rajasthan
- RE-INVEST is also an step in this ongoing process which will inform about the Government’s plans and programmes .
- It also foster engagement among industry, investors and other stakeholders to take forward India’s renewable growth story.
SOURCES: PIB | 3rd Global RE-INVEST 2020 | UPSC