India has made significant strides in its energy sector over the past two decades, but to achieve its ambitious goal of attaining 500 GW of renewable energy capacity and reducing energy intensity by 45% by 2030, it must significantly increase investment. Targeted allocation of public funds, in conjunction with international climate and development finance, can attract investors and channel private capital towards India’s clean energy objectives.
The Clean Energy Finance and Investment Roadmap for India highlights key actions that must be taken to accelerate the development of energy efficiency measures in micro, small and medium enterprises, as well as offshore wind and green hydrogen production.
To ensure the success of these initiatives, the roadmap proposes the creation of a green bank to mobilize public and private finance for clean energy projects, the establishment of a green energy corridor to facilitate the transmission of renewable energy across the country, and the implementation of a green energy certificate system to promote renewable energy generation.
Furthermore, the roadmap stresses the importance of fostering a favorable regulatory environment and creating incentives for private sector investment, such as tax exemptions, streamlined procedures for permits and approvals, and simplified land acquisition procedures.
Ultimately, the Clean Energy Finance and Investment Roadmap for India provides a comprehensive strategy to achieve the country’s clean energy goals and lays out a path towards a sustainable, low-carbon future.