The Roundtable was graced by the presence of key speakers, included Mr. Parag Vyas, Director of Kosol Energy; Mr. Kuldip Sorathiya – Founder & Director, Ksquare Energy; Harshad Soni, General Manager, Corporate Marketing, Hitachi HI-Rel Power Electronics and Mr Rajneesh Khattar, Senior Group Director, Informa Markets in India, to name a few, contributed valuable perspectives on innovative practices and sustainable solutions within the industry.
Speaking on the upcoming REI expo, Mr Yogesh Mudras, Managing Director of Informa Markets in India, said, “India has made remarkable strides in renewable energy, with installed capacity nearly doubling to 190 GW as of June 2024. The country achieved a record 18.48 GW addition in 2023-24, marking a 21% increase over the previous year. This impressive growth is fueled by government initiatives, including 100% FDI under the automatic route, which has attracted $3.8 billion in solar energy investments over the past three years.”
He further added, “The Muft Bijli Yojana, launched by the government in February 2024, provides a 40% subsidy for households to install solar panels, benefiting 10 million households and saving the government Rs. 75,000 crores annually in electricity costs. As REI Expo 2024 approaches, it continues to be a pivotal platform for shaping the future of renewable energy in India. REI’s vision is to drive innovation, unite industry leaders, and foster discussions that pave the way for sustainable growth, underscoring India’s commitment to becoming a global leader in renewable energy.”
“As REI Expo 2024 approaches, it continues to be a pivotal platform for shaping the future of renewable energy in India. REI’s vision is to drive innovation, unite industry leaders, and foster discussions that pave the way for sustainable growth, underscoring India’s commitment to becoming a global leader in renewable energy. It also provides crucial momentum to startups in the green energy sector, offering them a platform to showcase their innovations, connect with potential investors, and contribute to the industry’s rapid expansion.”
Mr. Parag Vyas, Director of Kosol Energy, said, “Our company has been a committed participant in Renewable Energy India since 2013, leveraging over a decade of experience to strengthen our presence in Gujarat and globally. Our diverse solar product manufacturing capabilities are integral to this success. The Indian government’s initiatives, such as the ₹78,000 subsidy for 3.3 kW solar rooftops, the Kusum Program’s target of 17 lakh solar pumps by 2025, and rural electrification through PV solarization, are pivotal in driving the sector forward. With a return on investment of less than four years, commercial solarization is poised to significantly boost our growth while contributing to India’s renewable energy goals.”
Mr. Rajneesh Khattar, Group Director, Informa Markets in India, said, “India’s renewable energy journey is a remarkable testament to the power of vision and ambition, scaling from 20 GW of solar energy in 2013 to 100 GW, then 280 GW by 2022, and now targeting 500 GW of renewable energy by 2030, with solar energy contributing the largest share. This target is achievable, especially with the growth of green hydrogen and electric vehicles.
Informa Markets in India is contributing to this sector through the Renewable Energy India Expo, which has grown in scale and size over the years. The 17th edition of the expo will feature over 800 companies and 50,000 visitors, making it the biggest gathering in the renewable energy sector. We are encouraging the importance of start-ups in this field and the need to promote them through initiatives like the Start-up Pavilion and Investor Zone. Additionally, the expo will feature seminars on green hydrogen, closed-door CEO and CTO conclaves, and a competition for start-ups to present their ideas to investors.”
Mr. Kuldeep Sorathiya, Director, Ksquare Energy Pvt. Ltd said, “Renewable Energy India (REI) has been instrumental in our growth journey, transforming us from visitors to exhibitors. The PM, Surya Ghar scheme, has revolutionized residential solar adoption, achieving a remarkable 7 years’ worth of installations in just 3 months, signalling a paradigm shift in India’s energy landscape. As we strive for net zero by 2070, empowering households to generate their own electricity will significantly reduce energy transition costs. With the market moving towards EVs and automation, electricity demand will surge in the next 5-10 years, but renewable energy and hybrid storage systems will rise to the challenge, fulfilling our future energy needs. This is a testament to PM Modi’s visionary targets and India’s commitment to a sustainable future.”
In its 17th edition, REI Expo will be supported by domestic and international associations, including the Indian Bio Gas Association (IBA), the National Highway of Electric Vehicles (NHEV), the Council on Energy, Environment and Water (CEEW), JMKresearch, Bridge To India, Rajasthan Solar Association, Indo German Energy Forum, Cleantech Business Club, PV Magazine, Yole Group, Wood Mackenzie, and BloombergNEF.
REI Expo 2024 will feature a range of activities, including CEO/CTO Conclaves, a 3-day technical conference, an investor zone, and over 28 conference sessions with 200+ global speakers. Notable pavilions include the Germany Pavilion and the Bio Energy Pavilion, offering deep dives into the latest trends and innovations.
Gujarat’s Renewable Energy Leadership
India’s pivot towards clean energy is creating significant economic opportunities, particularly in energy storage solutions such as solar batteries and Green Hydrogen Fuel Cells. These technologies promise to provide consistent power supply, even during periods of low renewable energy production, with Gujarat at the forefront, where renewable energy capacity is projected to soar to 38,466 MW by 2025 and 61,466 MW by 2030, India’s renewable energy trajectory is poised to transform the nation’s energy landscape. Gujarat’s Dholera Smart City and the 30,000 MW hybrid renewable energy park in Kutch are just a few examples of the mega projects contributing to this transformation.
The REI Expo 2024 promises to be a landmark event in shaping the future of renewable energy in India and beyond.
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