CPI Joins Hands with Power Foundation to Work for India’s Energy Transition
The MOU signed between CPI and Power Foundation reinforces each organisation’s commitment to a sustainable energy future in India. The proposed areas of collaboration include deployment of distributed renewable energy among other commitments.
March 17, 2023. By Anurima Mondal
Under this MOU, Power Foundation will build on CPI’s deep expertise in climate finance and policy. CPI will support Power Foundation's research endeavours to support India’s transition to a sustainable energy future, help further renewable energy, and push for directing international climate finance into the country.
CPI will provide support for training and capacity-building exercises. The MOU provides an overarching framework for collaboration between the two organisations.
The MoU was signed in the presence of Sanjiv Nandan Sahai, Director General of Power Foundation. The proposed areas of collaboration include deployment of distributed renewable energy (roof-top solar and off-grid solar), convening relevant stakeholders, and providing necessary logistic support for training and capacity building efforts.
At the signing ceremony, Dr. Dhruba Purkayastha, Director of CPI India, said, "At Climate Policy Initiative, our aim is to support central and state governments towards transitioning to a sustainable energy future in India. We look forward to CPI contributing significantly to Power Foundation's efforts to support India’s initiatives directed towards meeting its NDC targets along the Low Carbon Development Strategy submitted to UNFCCC. Our area of focus will include research and analysis, capacity building exercises, stakeholder engagements, and supporting distributed renewable energy deployment."
Dr. Sambit Basu, Director (Programs) & Chief Energy Economist of Power Foundation, added, "We are delighted to collaborate with Climate Policy Initiative India Private Limited in our mission to promote sustainable energy solutions in India. This collaboration will enable us to leverage CPI's on-the-ground experience in renewable energy and climate finance and expand our capabilities to address the challenges of the power sector transformation in a more effective and efficient manner. We are excited to work with CPI and look forward to a fruitful partnership."
The MOU signed between CPI and Power Foundation reinforces each organisation’s commitment to a sustainable energy future in India.
As per updated nationally determined contributions (NDC), reflecting India’s roadmap for a low greenhouse gas emission and climate resilient development pathway, the country has an enhanced target to reduce emissions intensity of its GDP by 45 percent by 2030 from 2005 levels, and achieve about 50 percent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030.
CPI’s Landscape of Climate Finance states climate finance flows are nowhere near estimated needs, conservatively estimated at USD 4.5 – 5 trillion annually. To achieve the transition to a sustainable, net zero emissions, and resilient world this decade, climate investment must increase drastically.
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