MNRE To Hold Talks On Financing New Technologies At G20 WG Meet Today 

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The Ministry of New and Renewable Energy (MNRE) will conduct a brainstorming session on low-cost finance for new and emerging technologies in Mumbai today. The event will be organized on the sidelines of the third Energy Transition Working Group (ETWG) meeting at the Jio World Convention in Mumbai. 

The event will likely discuss ways to estimate cost-effective financing methods for new and emerging renewable and energy-generation technologies like hydrogen, offshore wind, energy storage, and carbon capture utilization and storage. The session might see a conglomeration of industry players, policymakers, technology developers, local and international financing institutions, and others. 

The session will see participation from Bhupinder Singh Bhalla, Secretary, Ministry of New and Renewable Energy; Alok Kumar, ETWG Chair and Secretary, Ministry of Power; Abha Shukla, Principal Secretary Energy, Government of Maharashtra; Pradip Kumar Das, Chairman and Managing Director, IREDA, and Gauri Singh, Deputy Director-General, IRENA.

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The event will witness detailed discussions of the outlook of new and emerging technologies and the role of international and financing institutions and development banks in mobilizing investments. A report on low-cost finance for energy transition, which was prepared jointly by IRENA and MNRE, will also be released during the event. 

“The event is expected to witness the active participation from policymakers, technology developers, international and domestic financial institutions, development banks, industry players, academia, and other key stakeholders. The sessions will focus on estimating cost-effective financing for an energy transition based on the future trajectory of emerging critical technologies,” a media statement from MNRE said. 

“The development and deployment of these emerging critical technologies will require extensive research and development, creation of demand markets, reliability of the regulatory landscape, and long-term commitments to attract sustainable investment, ” it added. 

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