India’s energy needs to doubled in next 6-7 years: RK Singh

New Delhi, Oct 12: Union Minister of State for Power and New and Renewable Energy (NRE), RK Singh on Thursday said that India’s energy needs are going to double in the next 6-7 years at the present rate of growth of the economy. Chairing a Curtain Raiser ceremony, held here on Thursday, to inform that the 2nd edition of the Global Renewable Energy (RE) Investors Meet and Expo (RE-INVEST 2017) will be held from 7th to 9th December, 2017 at the India Expo Centre, Greater Noida and National Capital Region of Delhi, he said, “Nevertheless, India would continue to grow at a brisk pace and at the same time, decrease its carbon footprint so as to maintain its commitment towards giving the future generations a cleaner environment to live in. By 2030, 40 per cent of India’s energy needs would be met by Renewable Energy.” Addressing the august gathering of delegates from a number of foreign missions in India, Mr Singh said that India invites all Nations to partner in the endeavour to harness Clean Energy and Save the Planet. The Minister added that investing in Indian renewable energy sector not only helps in reduction of global carbon footprint but it is also a great business opportunity for all partner Nations, looking at the size of RE market in India. The Minister also assured the gathering that Government of India is committed to bring in policies to aid its partner countries to come and ‘Make in India’ in the RE sector. He informed that France will be the partner country for the event. During the event, Minister for Infrastructure and Sustainable Development, Republic of Kiribati, Ruateki Tekaiar asigned the Framework Agreement of International Solar Alliance (ISA) during the event. Kiribati becomes the 41st country to sign the agreement. Speaking during the event, Anand Kumar, Secretary, MNRE, informed that RE-INVEST 2017is likely to be inaugurated by the Prime Minister Narendra Modi. It has been envisioned as a global event where strategies for development and deployment of renewable energy will be deliberated upon. Heads of various Ministries of India and Heads of International Agencies like International Energy Agency, International Renewable Energy Agency and bilateral and multilateral financing institutions will be participating in these sessions. The event will also include Government to Government, Government to Business and Business to Business interactions. RE-INVEST 2017 will also provide a platform for reviewing the commitments made in RE-INVEST 2015 by industry, banks, manufacturers etc. The industry and developers had committed for 293 GW of renewable and against this, 39.3 GW capacity is commissioned/under implementation. As against the financial pledge of Rs 4 lakh crore by Banks, Rs 1.8 lakh crore have been sanctioned. On the sidelines of the RE- INVEST 2017,the Founding Ceremony of the ISA and Solar Summit has been scheduled on 8th & 9th December, 2017. Prime Minister of India, President of France, and the Secretary General of United Nations are likely to grace the ISA Founding Ceremony. The Founding Ceremony will firmly establish the ISA and demonstrate our joint commitment to harness solar energy potential. All prospective member countries of the ISA have been invited to participate in these events. UNI