Bengaluru, Feb 6 (IANS): Stating that Karnataka has 15,000 MW in-stand renewable energy, Chief Minister Basavaraj Bommai on Monday said the sector will gain importance in the next five years.

Speaking at "Indian Energy Week-2023" inaugurated by Prime Minister Narendra Modi here, Bommai said: "Karnataka is in the first place for generating nearly 50 per cent of the country's total renewable energy. Now, the state is focusing on various kinds of storage, such as pump storage, for the collection of renewable energy."

Bommai said 'The Global Investors' meet had provided an opportunity to nine companies to invest Rs 3 lakh crore in green hydrogen production, of which Rs 2 lakh crore in renewable energy.

"Karnataka has been at the forefront of generating renewable energy and the maximum number of research in Electric Vehicles and EV transport vehicles is going on. The aim is to become number one in the manufacturing of EV in the country. As a prelude, the investor-friendly EV policy has been implemented," he said.

Bommai said: "The state stands first in producing ethanol, a biofuel. Since Karnataka has several sugar factories, a young entrepreneur, Vijay Nirani, is into producing ethanol on a big scale in the whole of the country. The state will make a big contribution to producing ethanol."

"In Prime Minister Modi's 'Amrit Kal',they aim to develop the energy sector on a big scale. It will be achieved through the slogan 'maximum fuel', and 'minimum pollution'," he said.

Thanking the Prime Minister and Union Energy Minister for holding 'India Energy Week-2023' in Bengaluru, the CM said: "The definition of life has changed after Covid with new aims, achievements, and stand."

"Having successfully run the Gujarat government, PM Modi has brought revolutionary changes in the field of energy. With this experience, he has made many important changes," Bommai said.