Renewable energy and Multilateral Development Banks: India case-study
Renewable energy will form a core thrust of India’s INDCs, and also of the India specific country strategies of the World Bank and the Asian Development Bank. Speaking with the Department of Economic Affairs, Ministry of Finance, India, the author was informed of significant scale-up in the activities of both these MDBs on the renewable energy front. The World Bank’s US$ 625 million support on May 13, 2016, to the Govt. of India’s roof-top solar panel project was highlighted as a case in point. There are also two new entrants, the New Development Bank and the Asia Infrastructure Investment Bank that will be funding renewable projects in India.