Expanded Investments in 2024: Amplifying Funds and Technological Advancements within the Real Estate Industry
India's renewable energy sector continues to expand, with the 4th edition of RE-INVEST taking place from 16-18 September 2024 at Mahatma Mandir, Gandhinagar, Gujarat. This flagship event, organised by the Ministry of New and Renewable Energy (MNRE), Government of India, brought together international renewable energy companies, government bodies, and industry stakeholders.
RE-INVEST has grown with each edition, serving as a testament to India's commitment to sustainable development. The first edition took place in 2015, followed by the second in 2018 and the third in 2020. This year's event, RE-INVEST 2024, attracted over 25,000 delegates, including 250 international delegates, 363 companies, and 250 speakers.
India's renewable energy sector is not only growing domestically but also positioning the country as an attractive destination for investments. The government's initiatives, such as the National Hydrogen Mission, the Production Linked Incentive (PLI), and the FAME scheme, aim to promote sustainable development and attract investments.
India has set ambitious goals for its renewable energy sector. The government aims to achieve 500GW energy through renewable energy by 2030 and net-zero emissions by 2070. With 200 GW of non-fossil power capacity already achieved, India is on a pathway to 500 GW by 2030. However, addressing financial gaps in the sector requires collaboration with other states and global leaders, as well as increased green investments and financing.
RE-INVEST provides a platform for government officials, industry leaders, investors, researchers, and policymakers to discuss the global renewable energy landscape. This year's event focused on topics such as the push towards a circular economy, the importance of global mobility and workforce skills development, and the need for financial instruments like green and ESG bonds, InvITs, and other hybrid products to finance the renewable energy sector and recycle capital.
Another key focus of RE-INVEST 2024 was women's participation in the renewable energy sector. Women make up only 32% of the global workforce in the sector, and India aims to create 3.4 million jobs by 2030 through its development of solar and wind energy alone. Encouraging women's participation is crucial for a sustainable and inclusive energy transition.
India's potential for onshore and offshore wind projects is significant, and more investments, easier entry and exit, and risk mitigation are necessary to reach 100 GW by 2030 in wind installations. The country also aims to realize the goal of 5 MMT by 2030 under the National Green Hydrogen Mission and is exploring ways to adopt hydrogen at scale.
RE-INVEST 2024 underscored the importance of strengthening public-private partnerships, innovative policies, and supportive regulatory frameworks to drive growth in the renewable energy sector and lead the global renewable energy revolution. As India continues to invest in renewable energy, events like RE-INVEST will play a crucial role in shaping the future of the sector.
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