The major goal of the sessions is to calculate cost-effective financing for the energy transition
The Ministry of New and Renewable Energy (MNRE) is all set to host the event ‘Low-Cost Finance for New and Emerging Energy Technologies’ beginning today. Being held on the side-lines of the 3rd Energy Transition Working Group (ETWG) meeting, it is taking place at Jio World Convention Centre, Mumbai, Maharashtra, India, in partnership with the Indian Renewable Energy Development Agency (IREDA), and International Renewable Energy Agency (IRENA) as knowledge partner.
Policymakers, technologists, local and foreign financial institutions, development banks, business leaders, academics, and other important stakeholders are anticipated to actively participate in the event. The sessions' main objective will be to estimate cost-effective finance for the energy transition based on the future development of four crucial new technologies: hydrogen, offshore wind, energy storage, and carbon capture, utilisation, and storage (CCUS).
At the G20 ETWG side event, the "Low-Cost Finance for Energy Transition" study, which was created by IRENA and the MNRE under the G20 India Presidency, will also be revealed. The paper offers a complete toolkit to expand the pool of low-cost financing available in G20 nations and elsewhere.
Abha Shukla, Principal Secretary Energy, Government of Maharashtra; Bhupinder Singh Bhalla, Secretary, Ministry of New and Renewable Energy; Pradip Kumar Das, Chairman & Managing Director, IREDA; and Gauri Singh, Deputy Director-General, IRENA will all be present at the opening plenary.
Two panel talks will be part of the side event; the first will cover the forecast for new and developing energy technologies, and the second will go into the function of international financial institutions and development banks in attracting investment.
The construction of demand markets, a stable regulatory environment, substantial research and development, and long-term commitments are all necessary for the development and implementation of these developing vital technologies.