According to the Press Information Bureau, the Vice-President of India addressed the valedictory session of the Bharat Renewable Energy Summit & Expo 2026 in New Delhi. He stated that India’s progress in renewable energy demonstrates that environmental commitments act as a catalyst for economic development.
Union Minister for New and Renewable Energy Shri Pralhad Joshi stated that India’s renewable energy sector has attracted more than ₹15 lakh crore in investment over the past decade, with nearly ₹6 lakh crore received in the last two years. He noted that the Summit saw participation from over 75,000 visitors across 135 countries and featured the launch of the International Energy Agency’s India RE Market Report 2026.
The Union Minister highlighted that the Union Cabinet approved a ₹14,500 crore Viability Gap Funding scheme for 92 GWh of grid-scale energy storage capacity, covering Battery Energy Storage Systems, Pumped Storage Projects, and new technologies. He added that India achieved utility-scale solar generation costs of USD 30–35 per MWh, described as the lowest globally, and saved over USD 100 billion in fossil fuel imports.
What it means
- The Union Cabinet approved a ₹14,500 crore Viability Gap Funding scheme for the development of 92 GWh of grid-scale energy storage capacity.
Source
Press Information Bureau, Government of India, “Vice-President addresses Valedictory Session of Bharat Renewable Energy Summit & Expo 2026 in New Delhi”. Read the original release.
Summary of an official release for general information only. Not investment advice. Read the original source before acting on any information.
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