On 26th November 2020, the Honorable Prime Minister of India Narendra Modi virtually inaugurated the 3rd Re-Invest Global Conference and e-Expo. Mr. Dan Jørgensen, Danish Minister of Climate, Energy & Utilities, spoke at the inauguration by invitation from Shri R.K. Singh, Minister for Power and New & Renewable Energy.
At the session, both Energy Ministers underlined the successful and rapidly growing Indo-Danish cooperation on energy, most recently underpinned by the new Green Strategic Partnership between the two countries.
In his address, Honorable Prime Minister Modi emphasized India’s progress in the field of renewable energy should be seen as an outcome of the firm commitment and conviction of the country to fight climate change. Investing in renewable energy early on, even when it was not affordable, has helped in achieving the scale, which is bringing costs down. India has been showing to the world that sound environmental policy can also be sound economics. Today, India is one of the few countries on track to achieve a 2-degree scenario.
India’s renewable power capacity is the 4th largest in the world and is growing at the fastest speed among all major countries. Honorable Prime Minister highlighted that India is becoming the preferred option for investments in renewables and that was the goal to make India into a global manufacturing hub for renewables. Moreover, energy demand in the country will continue to grow, which pave the way for huge renewable energy deployment plans corresponding to 20 billion dollars per year. This provides unique opportunities to invest in India – the Honorable Prime Minister concluded by inviting investors, developers and businesses to join India’s renewable energy transition.
Honorable Minister Singh opened the session by underlining that India have taken enormous strides on the transition of the energy system in a very short period of time. The expansion of energy access that has been conducted in India was unprecedented and the renewable energy capacity was rapidly increasing, reaching a 38.1 % installed capacity from non-fossil fuel sources.
As concluding remarks after the speech of Honorable Minister Dan Jørgensen, Honorable Minister Singh underlined that “We have a very close partnership with Denmark in the field of renewable energy and it will get closer”.
Honorable Minister Jørgensen emphasized the strong Danish support for the ambitious Indian targets on renewable energy with 450 GW by 2030, with 30 GW coming from offshore wind. The strong Indo-Danish cooperation have entered into a new chapter with strong collaboration on offshore wind and renewables.
Honorable Minister Jørgensen accentuated that Denmark have shown the way to decouple greenhouse gas emissions and economic growth. Green investments are no longer only a matter of doing the right thing – they also make good financial sense in their own right. In conclusion, the honorable Minister stressed the hope that a strengthened partnership between India and Denmark will create new jobs in the renewable energy sector and attract companies from the energy industry.
Watch the complete inauguration session of the 3rd Re-Invest Global Conference and e-Expo here: https://www.youtube.com/watch?v=VS7T9sbPDRA