India urges US investors to invest in country’s energy sector

In a meeting, RK Singh, the Minister of Power, has invited US investors for an investment opportunity in the renewable energy and power sector in India. In a virtual meeting, the Ministry of New and Renewable Energy mentioned India's achievements in the power sector to the investors. According to a statement, the meeting allowed the investors to interact with the power ministry on renewable and power sectors in India, and the opportunity is available to global investors. Advancing cleaner, more sustainable and affordable energy to mitigate climate change and power India's economic growth was the theme of the meeting between the power ministry and members of the US India Business Council (USIBC). As per the statement, over 50 industries are cutting across multiple sectors of the economy, such as technology, infrastructure, renewable energy, aviation, banking, etc. In a meeting with USIBC, Singh said that India is on the way to install 450 GW of renewable energy by 2030. He further said that the electricity distribution reforms and promoting open access to the energy grid would enhance renewable energy consumption. He mentioned India's achievements in renewable energy, energy efficiency, energy access, and emissions reduction. He shared the governments' plan to promote Indian manufacturing and exports, including the production-linked incentive (PLI) scheme for manufacturing renewable essentials such as solar cells, solar modules, batteries, and the promotion of green hydrogen. He is ready to take up ideas and suggestions for promoting the renewable sector to meet the goal of 450 GW. The ministry emphasised the commitment to the common goal of the US and India on climate change, clean energy and sustainability, and the Indian-US Clean Agenda 2030 Partnership. For the recent achievement of 100 GW installed renewable energy capacity, the business leaders congratulated the ministry. Image Source Also read: NHPC, NTPC ink pact for cooperation in overseas power market