Innovative Funding Strategies Crucial for Renewable Energy Growth

At a symposium on 'Green Transition in States', Niti Aayog vice chairman Suman Bery emphasized the need for innovative funding to propel renewable energy growth. Cooperative federalism and robust infrastructure are necessary, with new schemes and platforms aiding states in achieving sustainable energy goals.

Niti Aayog vice chairman Suman Bery emphasized on Tuesday the importance of innovative funding mechanisms to sustain renewable energy growth, particularly within private-sector-driven models.

During a symposium focused on 'Green Transition in States', Bery highlighted financial challenges confronting renewable energy expansion. Niti Aayog CEO BVR Subrahmanyam underscored the importance of cooperative federalism in enabling states to develop and implement viable green transition strategies that align with national objectives.

Power Secretary Pankaj Agarwal detailed efforts to reinforce India's energy infrastructure, especially in renewable-based storage solutions, to meet rising peak demands. MNRE Secretary Prashant Kumar Singh discussed advancements like the PLI scheme and the PM-KUSUM initiative that enhance solar deployment and contribute towards India's renewable energy target of 500 GW.

(With inputs from agencies.)