BENGALURU: The third edition ofRE Invest, theflagship eventofthe Ministry of New and Renewable Energy(MNRE), will take place virtually from November 26 to 28.
Prime Minister Narendra Modi is expected to inaugurate the event on November 26, sources said.
In the first RE Invest which was held in 2015, investment commitments were sought from the industry and other global investors in energy. MNRE decided to shift its focus in its second RE Invest which it held in October 2018. It was an open-ended discussion on the state of the industry, rather than an effort to raise funds. The November event is likely to follow the same format.
“The investment model has been dropped. You get commitments on paper and when they don’t materialise, you get bad publicity,” said a source close to the development, requesting anonymity. “MNRE has dropped out of the numbers game.”
CEOs of global companies are expected to participate in the event. “The goal of the conference is to create awareness, define problems and come up with solutions to those problems,” said the person quoted above.
Although MNRE intended to hold the event every year, it did not take place last year. The second edition too had been postponed four times before it was finally held.
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