Namaskar and a very Good Afternoon to you all!
I am happy to join this Webinar jointly organized by our Consulate General of India in Ho Chi Minh City, Investment Promotion Centre for South Vietnam of Vietnam’s Ministry of Planning and Investment (IPCS-MPI), National Solar Energy Federation of India (NSEFI), Renewable Energy Promotion Association (REPA) of India and Vietnam Clean Energy Association (VCEA).
I am also delighted to learn that National Solar Energy Federation of India (NSEFI) and Vietnam Clean Energy Association (VCEA) are going to institutionalize their cooperation by signing an MOU to promote B2B partnership in renewable energy sector between Indian and Vietnamese companies.
I am sure that the MoU would create new opportunities for business partnership in renewable energy sector through exchange of knowledge and sharing best practices and information. I also hope that this cooperation would be replicated by other stakeholders to enhance further collaborations in the renewable energy sector between our two countries. We stand ready to extend our support to such collaborations.
India and Vietnam are among the fastest growing economies of the world today and need sustainable energy supply to meet their developmental goals. Only today, I saw headline reports in Vietnam’s newspapers that Vietnam will need 150 billion US dollars to invest in power projects over the next 10 years.
Given our shared quest for energy security and at the same time, with our commitment to sustainable and climate-friendly development, renewable energy has become an integral part of our energy strategy and therefore, a key area of our bilateral cooperation.
India today attaches very high priority to sustainable development, which is manifest in the eight Missions launched under our National Action Plan for Climate Change to harness renewable energy sources, promote energy and resource conservation and accelerate deployment of renewables for our energy needs. National Solar Mission is one of them.
India has also launched, together with France, the International Solar Alliance in 2015 with the objective of achieving the common goal of increasing the deployment of solar energy in a safe, convenient, affordable, equitable and sustainable manner. The International Solar Alliance today has more than 80 countries around the world as its full-fledged member.
As a result of these strategic re-orientations in our energy policy, India has been able to expand its earlier goal of achieving 175 GW installed capacity for renewable energy by 2022 to a more ambitious target of 450 GW by 2030.
In these concerted initiatives, Indian businesses and enterprises are also important stakeholders, and have been able to develop expertise and requisite technology in harnessing renewable energy over the years.
I am happy that some Indian companies have already invested in Vietnam’s renewable sector, particularly in solar energy and bio-gas plants. The construction of 50 MW solar power plant in Thuan Nam District in Ninh Thuan province by M/s Adani and 30 MW KCP Biomass Power Plant in Phu Yen Province are examples. Some other Indian companies have also shown interest, while some provinces in Vietnam have approached us for possible cooperation in the renewable energy sector. Our business communities should explore and seize these opportunities.
It is very opportune that we are holding this webinar on the day India’s Ministry of New & Renewable Energy is hosting the 3rd Global Renewable Energy Investors Meet & Expo (also called RE-INVEST) on a virtual platform. The event will be inaugurated by Hon’ble Prime Minister Shri Narendra Modi later today evening.
RE-INVEST 2020, which has been themed as “Innovations for Sustainable Energy Transition” aims to accelerate the worldwide effort to scale up development and deployment of renewable energy and connect the global investment community with Indian energy stakeholders. It will feature a 3-day conference on renewables and future energy choices, and an exhibition of manufacturers, developers, investors, and innovators.
We hope that Vietnamese enterprises and stakeholders will participate. The details have been put on our Embassy’s webpage.
I thank you once again for inviting me to this webinar. I hope that today’s deliberations will come out with concrete takeaways, which will be followed upon by a more focused B2B engagement. On our part, both our Embassy and the Consulate General will be ready to extend all necessary support and facilitation.
Thank you.
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