Why climate finance is an important tool to accelerate clean energy initiatives

economictimes.indiatimes.com:

renewable energy sector, the global landscape is evolving, with significant implications for sustainable energy initiatives. The ongoing COP28 conference is poised to be a crucial platform for nations worldwide to deliberate and implement strategies to combat climate change with a special focus on the mobilisation of climate finance and structural reform of the global financial system.

India has emerged as a centre point for renewable energy investments, witnessing over $78 billion of capital infusion into the renewables sector since 2014.

With a workforce of huge potential, access to affordable capital, and ease of doing business, India has emerged as an attractive location for establishing renewable energy facilities. Enduring power purchase agreements at assured rates and a resilient grid network bolster the returns on investments.

Presently, a pipeline of renewable energy ventures, valued at around $197 billion, is progressing across the nation. Numerous Indian states have committed to distinctive renewable energy targets, further supporting the goals of clean and renewable energy.

Amidst this ever-changing scenario, the extensive possibilities for innovative and impactful intervention in reshaping India's energy accessibility story become evident.

With rising energy demands and environmental concerns, innovative solutions are essential to meet our targets for emission reduction and energy security, and investments in them are paramount. These investments drive technological advancement, enhance grid integration, and drive down costs.