New Delhi [India], November 2 (ANI): Prime Minister Narendra Modi on Monday inaugurated the 'India Renewable Energy Summit and Expo-2026' at Bharat Mandapam in New Delhi, with Rajasthan Chief Minister Bhajanlal Sharma participating in the event and inviting leading investors to explore investment opportunities in the state's renewable energy sector.

During the summit, Prime Minister Modi said that 'More than 50 per cent of India's installed electricity capacity was now based on non-fossil fuel sources, a target set under the Paris Agreement for 2030 that the country achieved five years ahead of schedule, in 2025. Highlighted India's commitment to advancing global clean energy cooperation in the spirit of 'One Earth, One Family, One Future.'

On the sidelines of the summit, Chief Minister Bhajanlal Sharma held a round-table meeting with more than 50 prominent investors in the presence of Union Minister for New and Renewable Energy Pralhad Joshi. He highlighted the extensive potential and investment opportunities in Rajasthan's renewable energy sector and invited investors to participate in the state's growth.

Representatives of several major companies, including Brookfield, ReNew, Aditya Birla Renewables, the Jindal Group and Avaada, participated in the meeting.

Sharma also inaugurated and inspected Rajasthan's stalls at the expo. Minister of State (Independent Charge) for Energy Hiralal Nagar and Chief Secretary V Srinivas were also present. 

Highlighting Rajasthan's position in the renewable energy sector, the Chief Minister said the state ranked first in the country in renewable energy generation and installed solar energy capacity. He said the state government aimed to develop approximately 125 gigawatts of renewable energy capacity by 2030, with a particular focus on solar and wind energy, hybrid projects and energy storage.

'The state government had implemented the Rajasthan Integrated Clean Energy Policy and introduced the 'Right to Use' policy to facilitate land availability for mega renewable energy projects. He added that investors were being provided various incentives and facilities under the Rajasthan Investment Promotion Scheme 2024. The Chief Minister further said that Rajasthan had already installed more than 51,000 MW of renewable energy capacity, including over 45,000 MW of installed solar power capacity', the Rajasthan CM said.

'The state was expanding large-scale solar parks, rooftop solar installations, wind energy, biomass and energy storage projects. A roadmap was also being prepared for developing energy storage projects to utilise surplus solar power generation and improve grid management during peak demand periods', he added.

The international summit and expo, being organised under the theme 'Invest, Innovate, Inspire', is showcasing the renewable energy potential, investment opportunities and manufacturing capabilities of Rajasthan and 12 other states and Union Territories on a national and international platform.

The event, being held from November 2 to 5, has participation from representatives of more than 130 countries and over 400 exhibitors. They are showcasing advanced technologies and clean energy solutions across solar and wind power, green hydrogen, energy storage and other emerging sectors.

The summit aims to promote global investments, industrial participation and technological partnerships in the clean and renewable energy sector. (ANI)