India’s Tryst with Renewable Energy: The 3rd Global Re-Invest Meet & Expo

The COVID-19 pandemic has presented an unprecedented challenge to industrial and economic growth across the world. Even as industries begin to recover, as per some reports, businesses continue to operate at limited capacities with India seeing lower factory outputs and contraction of industrial production. This has resulted in trends that point towards a global recession. However, even amid such a contraction of economic growth both in India and worldwide, in its Renewables 2020 Report the International Energy Agency (IEA) has opined that the deployment and development of renewable energy (RE) have remained largely resistant and resilient to the conditions imposed by the pandemic- a trend that seems to be reflected in the Indian diaspora as well. There are predictions that even as there are short term falls in the installed capacity of distributed renewable energy, the industry itself will bounce back. This is in part helped by the short term relief provided to the power sector (which includes renewable energy) by the Ministry of New and Renewable Energy (MNRE) since late March, 2020.  (more…)