Govt to organise event on low-cost finance for emerging energy techs tomorrow

New Delhi [India], May 14 : The government will conduct an event Low-Cost Finance for New and Emerging Energy Technologies on Monday.

The Ministry of New and Renewable Energy (MNRE) will be orgsing the event on the sidelines of the Third Energy Transition Working Group (ETWG) meeting, according to the ministry's statement released on Sunday.

The event will be held at Jio World Convention Centre, Mumbai, in partnership with the Indian Renewable Energy Development Agency (IREDA), and International Renewable Energy Agency (IRENA) as knowledge partner.

The event is expected to witness the active participation from policymakers, technology developers, international and domestic financial institutions, development banks, industry players, academia and other key stakeholders.

It also said the sessions will focus on the estimation of cost-effective financing for energy transition based on the future trajectory of emerging critical technologies - Hydrogen, Offshore Wind, Energy Storage and Carbon Capture Utilisation and Storage (CCUS).

The report titled 'Low-Cost Finance for Energy Transition', prepared by IRENA in collaboration with the MNRE under G20's India Presidency, will also be unveiled at the G20 ETWG side event. The report provides a comprehensive toolbox to increase the availability of low-cost capital in G20 countries and beyond.

The side event will feature two-panel discussions - first session on the outlook of new and emerging energy technologies and the second session will discuss the role of international financial institutions and development banks in mobilising investments.

The development and deployment of these emerging critical technologies will require extensive research and development, creation of demand markets, reliability of the regulatory landscape and long-term commitments to attract investment on a sustainable basis, according to the ministry's statement.

The opening plenary will see the presence of Bhupinder Singh Bhalla, Secretary, Ministry of New and Renewable Energy; Alok Kumar, ETWG Chair and Secretary, Ministry of Power; Abha Shukla, Principal Secretary Energy, Government of Maharashtra, Pradip Kumar Das, Chairman and Managing Director, IREDA, and Gauri Singh, Deputy Director-General, IRENA.

Indian Renewable Energy Development Agency Limited (IREDA) is a miniratna (Category - I) Government of India Enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE).

The International Renewable Energy Agency (IRENA) is the lead intergovernmental agency for the global energy transformation that supports countries in their transition to a sustainable energy future.