Mobilizing investment for clean energy in India

India has charted ambitious goals for its energy transition. These include achieving 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources. Additionally, it has committed to reducing the emissions intensity of its GDP by 45% (compared to 2005 levels), also by 2030. From a longer-term perspective, India has stated its goal of achieving net-zero emissions by 2070. The associated investment requirements are immense. From a near-term perspective, the Parliamentary Standing Committee on Energy (2021-22) released the Financial Constraints in the Renewable Energy Sector report in January 2022 to highlight the immense amount of investment at an annual investment requirement of USD 20 to 27 billion until 2030 against the flows of USD 10 billion mobilised over last few years. In line with the targets, the paper proposes two financial interventions built along with the stakeholders in the area that could create the maximum impact.

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