Investor network launches instruments to accelerate millions for clean energy
The India Innovation Lab for Green Finance (the India Lab) announced endorsement of three innovative investment vehicles that will help drive millions of dollars of needed investment to India’s clean energy and green growth targets. This announcement is in partnership with the India Lab’s public and private Lab Members, including the Indian Ministry of New and Renewable Energy, the Ministry of Finance, the Indian Renewable Energy Development Agency (IREDA), the Asian Development Bank, ReNew Power, the World Bank, and the development agencies of the French, UK, and US governments, among others. The three endorsed instruments, which were selected from among a highly competitive pool, and refined and developed over the course of a year, will now move forward for piloting in India with the support of the India Lab’s members. They include a rooftop solar financing facility, a new lending platform for green investments, and a currency exchange instrument.