Mon Sep 16 19:59:51 UTC 2024: ## India Aims for Global Leadership in Renewable Energy, PM Modi Declares at RE-INVEST 2024
**Ahmedabad, India:** Prime Minister Narendra Modi today inaugurated the fourth Global Renewable Energy Investors’ Meet and Expo (RE-INVEST) in his home state of Gujarat, asserting India’s commitment to becoming a global leader in renewable energy.
Addressing the event, PM Modi highlighted India’s ambitious goal of achieving 500 GW of renewable energy capacity by 2030. He emphasized that this goal is not just about meeting India’s energy demands but about fighting climate change and becoming a sustainable economy.
“India is at the forefront of developing renewable energy sources, including solar power,” said PM Modi, adding that the country is poised to become the world’s third largest economy. He underscored the government’s commitment to infrastructure development, citing initiatives such as 12 new industrial cities, eight high-speed road corridors, and the promotion of e-mobility.
The PM also emphasized the government’s focus on research and development, allocating ₹1 trillion for research initiatives and establishing a viability gap funding scheme for offshore wind energy projects worth over ₹7,000 crore.
India’s commitment to renewable energy has garnered international recognition. PM Modi highlighted that India is the first G20 nation to achieve its climate commitments set in Paris, nine years ahead of schedule.
Several states, including Gujarat, Andhra Pradesh, Maharashtra, Rajasthan, and Uttar Pradesh, have announced ambitious plans for renewable energy development. Banks and financial institutions have pledged an additional $386 billion in financing by 2030 for project development.
The RE-INVEST 2024 event, attended by delegates from over 40 countries, highlights India’s role in leading the global transition towards a sustainable future.
First Piper 