Renewable energy firms commit Rs 32.45 trillion investments

19 Sep 2024 CW Team

Renewable energy companies, including power generators and equipment manufacturers, have pledged to invest Rs 32.45 trillion in India to boost the sector's growth. This announcement was made at the ongoing REInvest event, organised by the Ministry of New and Renewable Energy (MNRE) in Gandhinagar, Gujarat. Prime Minister Narendra Modi inaugurated the event, assuring investors of "better guaranteed returns" in the renewable energy industry.

The commitments include installing 569 GW of new capacity at a cost of Rs 50 million per MW, resulting in a total investment of Rs 28.45 trillion. Additionally, equipment manufacturers have committed to establishing 338 GW of solar module capacity, which will require an investment of Rs 680 billion, and 239 GW of solar cell capacity with an investment of Rs 1.55 trillion. (ET)

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