As many as 293 companies have committed to generate 266 GW of renewable energy in the next five years under the government’s ambitious RE-Invest programme unveiled by Prime Minister Narendra Modi.
These companies have shown interest to set up renewable power plants in the country and some have assured to manufacture equipment as well.
At the first Renewable Energy Global Investors Meet (RE-Invest), Mr. Modi said there should be thrust on equipment manufacturing under the ‘Make in India’ plan as it will go a long way in job creation.
While unveiling the three-day conference, the Prime Minister said, “Solar, wind and biomass sources of energy are the way forward and the government is working towards making solar power more viable.”
He added that there is a need to develop hybrid plants as well for optimum utilisation of available land.
It was announced at the RE-Invest meet that 293 firms expressed their desire to join this ambitious programme of the government and help in meeting renewable energy generation target.
Renewable energy companies including Suzlon and Gamesa have committed to manufacture equipment to help generate 11,000 mw and 7,500 mw of power respectively to be used in the non conventional energy side.
Country’s largest power producer NTPC has also said it would generate 10,000 mw of power through green sources in the next five years.
Among others are Welspun Energy with a target to generate 11,000 mw renewable energy, followed by ReNew Power 11,500 mw capacity, Reliance Power 6,000 mw, Hindustan Powerprojects 10,000 mw and Sun Edison 15,000 mw.
Country’s biggest lender SBI has said it will finance 15,000 mw renewable energy over the next five years.
