THEBUSINESSBYTES BUREAU

NEW DELHI, NOVEMBER 5, 2026

India has established itself as a major global force in renewable energy, with growing international confidence in its clean energy ambitions, Union Minister for New and Renewable Energy Pralhad Joshi said on Thursday, asserting that the country is emerging as an attractive investment destination and a key partner in sustainable development.

Addressing the media at the conclusion of the four-day Bharat Renewable Energy (BRE) Summit and Expo 2026 at Bharat Mandapam, Joshi said the event had brought together policymakers, investors, industry leaders and innovators from over 135 countries, making it one of India's largest international platforms for renewable energy.

Held from November 2 to 5, the summit witnessed participation from over 75,000 visitors, more than 400 exhibitors and 627 speakers across 113 sessions. It also saw participation from 32 international ministers, six chief ministers and 10 state energy ministers, reflecting strong global and domestic engagement.

Joshi said India's renewable energy investments had strengthened its resilience against global disruptions, including the COVID-19 pandemic and the West Asia crisis. More than a quarter of the country's annual electricity consumption came from renewable sources in the last financial year, highlighting the progress of its energy transition.

A key focus of the summit was mobilising investments to achieve India's target of 500 GW of non-fossil fuel capacity. The country requires an estimated USD 220 billion in investments to meet the target, with discussions indicating strong interest from domestic and international investors, including pension funds and institutional investors.

Deliberations also highlighted the need for bankable power purchase agreements, predictable power offtake, improved risk allocation and deeper bond markets to facilitate large-scale financing.

The summit underlined the growing importance of energy storage, transmission infrastructure and grid flexibility as India moves towards an integrated and reliable power system amid rising electricity demand from industry, electric mobility, cooling and data centres.

Round-the-clock renewable energy and Firm and Dispatchable Renewable Energy (FDRE) solutions also attracted considerable interest. A recent SECI tender discovered a competitive tariff of Rs 5.25 per unit for FDRE power, drawing attention from international delegates.

Strengthening domestic manufacturing, advancing next-generation solar technologies, developing long-duration energy storage and promoting artificial intelligence applications in renewable energy were among the other key priorities.

The innovation ecosystem witnessed participation from over 300 startups in the Renewable Energy Hackathon, alongside 70 startup pods, 40 academic posters and 10 research papers.

In a significant development for India's green hydrogen ambitions, the Solar Energy Corporation of India (SECI) and Rotterdam-based Power2X signed an MoU to advance the supply and offtake of green molecules in international markets. The first tranche indicated potential green methanol volumes of three lakh tonnes annually.

International cooperation also received a major boost, with the International Solar Alliance (ISA) proposing a USD 200 million Africa Solar Facility to accelerate solar deployment and improve access to finance across African countries.

The summit also witnessed the launch of the ISA Academy and the Global Capability Centre-SHINE, besides the signing of 10 MoUs and framework agreements covering technology, research, manufacturing, capacity building and project implementation.

A total of 37 reports, assessments, guidebooks and digital platforms were released to strengthen policy planning, domestic manufacturing, skilling and renewable energy deployment.

Joshi said the summit had reinforced India's commitment to clean energy, global energy security and climate action, demonstrating that the country's renewable energy journey was now focused not only on expanding capacity but also on attracting long-term investment, fostering innovation and sharing solutions with the world.