The roundtable discussion on August 28th at the Radisson Blu in Ahmedabad highlighted key aspects of Gujarat’s renewable energy sector, including infrastructure scalability, policy implementation, investment opportunities, and technological advancements.
These discussions set the stage for the broader conversations that will take place at the REI Expo 2024, underscoring the state’s pivotal role in shaping India’s renewable energy future.
Industry leaders such as Parag Vyas, Director of Kosol Energy; Kuldip Sorathiya, Founder and Director of Ksquare Energy; and Harshad Soni, General Manager of Corporate Marketing at Hitachi HI-Rel Power Electronics, shared their insights on the challenges and opportunities within the sector.
India has made significant progress in renewable energy, with installed capacity nearly doubling to 190 GW as of June 2024. Government initiatives, such as 100% FDI in renewable energy and the “Muft Bijli Yojana,” which provides a 40% subsidy for households to install solar panels. The “Muft Bijli Yojana” alone has benefited 10 million households and is expected to save the government Rs. 75,000 crores annually in electricity costs.
Parag Vyas of Kosol Energy discussed the impact of these initiatives on the solar energy sector, including the success of the Kusum Program and the commercial solarisation efforts that are expected to significantly boost the sector’s growth.
India’s renewable energy journey has seen remarkable growth, from 20 GW of solar energy in 2013 to 100 GW, with a target of 500 GW by 2030. The increasing adoption of green hydrogen and electric vehicles is expected to play a significant role in achieving this target. Start-ups in the renewable energy sector are also gaining momentum, with opportunities to showcase their innovations and connect with investors.
Kuldeep Sorathiya of Ksquare Energy highlighted the impact of residential solar adoption through the PM Surya Ghar scheme, which has led to a significant increase in solar installations. He also pointed to the growing demand for electricity driven by the rise of electric vehicles and automation, and the role of renewable energy and hybrid storage systems in meeting these future energy needs.
The REI Expo 2024 will feature a range of activities, including CEO/CTO Conclaves, a three-day technical conference, an investor zone, and over 28 conference sessions with 200+ global speakers. The expo will also include specialised pavilions such as the Germany Pavilion and the Bio Energy Pavilion, focusing on the latest trends and innovations in the renewable energy sector.