3rd Global RE-INVEST 2020 | UPSC

AIM

• It connect the global investment community with Indian energy stakeholders.

THEME 2020

TIMELINE

• It will feature a 3-day conference on renewables and future energy choices.

• The first two editions held in 2015 and 2018 respectively.

• The summits provided an international forum for investment promotion in renewable energy.

KEY FOCUS

• Big market
• Strong economy
• 100% FDI in the RE Sector
• Robust political and judicial system
• Constantly enhancing ease to do business
• RE PPAs designed to protect investment and ensure timely payments

PARTNERS

PARTICIPANTS

• The Secretary of State for Business, Energy and Industrial Strategy, UK & President COP-26 will be present.
• The Minister of Energy, Utilities and Climate, Denmark will attend and speak in the inaugural session.
• Ministerial Delegations from across the world, global industry leaders are expected to participate in the event.

SIGNIFICANCE

• It will also send signals to the global renewable community about India’s commitment to the development and scaling up of renewable energy.

• It would facilitate collaboration and cooperation with key stakeholders in India.
• Today India has emerged as one of the world’s largest renewable energy markets .

THE EVENT

• The event will include 6 focused country sessions, alongside over 20 plenary and technical sessions, a special Chief Ministerial plenary session.
• Over 200 speakers including around 80 international speakers will speak in various sessions.
• In India during the last 6 years, over Rs 4.7 lakh crore were invested and India has become a favoured destination for investment in renewables. 

• By 2022, the share is expected to further increase to over 220 GW. 

COVID-19 AND RENEWABLE ENERGY TARGETS

• COVID 19 has caused significant disruption, the renewable energy sector has rebounded remarkably.
• The pace of bidding for RE projects since the lock down is even faster than the for the corresponding period last year.

• India’s plans for renewables for 2030 will translate into an investment opportunity of around Rs 1 lakh crore per year.
• Government schemes alone have created a domestic demand and assured market of around 40 GW.
• India has very liberal foreign investment policy for renewables, allowing foreign investors, either on their own or in joint ventures with Indian partners.

EXHIBITIONS AT RE-INVEST 2020

• RE-INVEST also includes an exhibition with over 100 exhibiting companies.

• In this time when travel is restricted, and the world is progressing through the virtual medium.
• The third RE-INVEST will provide businesses and efforts the right linkages to enhance their value chain.