Global Alliance for Clean Energy and Transportation (GACET) on LinkedIn: Sovereign wealth funds target India's green energy push (2024)

India's green energy sector is poised to attract a massive #investment of $800 billion, driving the country's #renewable energy ambitions and signaling a significant shift towards sustainability.Read More at: https://lnkd.in/dv5YWfSa#renewableenergy #growth #india #investment #projects #funding #greenenergy #sustainabledevelopment #energy #sustainability

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🌞🌱 Renewable energies are the future, and it's heartening to see Namibia making strides to be at the forefront of this transformation. The Solar Revolving Fund (SRF) is a commendable initiative that aims to electrify rural and peri-urban areas and opens up opportunities for SMEs to be part of this green revolution. 💡With Namibia having some of the best sunlight conditions for solar energy, the potential is enormous. SMEs, this is your chance to be part of a sustainable future and contribute to the nation's energy independence. 🇳🇦The government's commitment to increasing rural electrification aligns well with global sustainability goals. It's a win-win for everyone—better living standards for the people and a cleaner, greener environment for the planet. 🌍Let's seize these opportunities and make renewable energy the norm, not the exception. 🌟#RenewableEnergy #SolarPower #SMEs #Namibia #Sustainability #growingtogether

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The Economic Times dives deep into India's interim budget, highlighting its significant emphasis on green initiatives and climate action. Budgetary allocations reveal a strategic focus on several key renewable energy fronts. The interim budget embraces a multifaceted approach to transitioning towards a greener future. The ambitious "Rooftop Solar Revolution" aims to empower one crore households with energy independence and cost savings, while viability gap funding is allocated for offshore wind projects, unlocking their vast clean energy potential. Cleaner everyday fuels get a boost with biogas blending in CNG and PNG, while coal gasification and bio-manufacturing schemes explore sustainablealternatives.While the article commends the budget's commitment to accelerating renewable energy deployment, aligning with global net-zero goals, and fostering economic growth, it also cautions about the need for sustained funding, streamlined policies, and grid infrastructure upgrades to ensure smooth project execution and effective integration. Clear implementation plans and stakeholder engagement are also crucial for maximizing the impact of these initiatives.Read the full article here: https://rb.gy/rmnp8e

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As renewable energy continues to be a critical focus for sustainable development globally, a new challenge has emerged that potentially slows down progress in emerging economies. Rising capital costs are proving to be a significant barrier for the deployment of clean energy in these regions.A recent article by Renewable Energy World highlights the financial hurdles encountered when implementing renewable energy projects, particularly in less affluent markets where the initial capital required for such ventures is disproportionately high in comparison to developed countries.The complexity of this issue is underscored by the fact that emerging economies are the most in need of sustainable and affordable energy solutions to support their growth and to mitigate climate change. However, due to higher perceived risks, investors often demand higher returns, resulting in inflated costs for launching renewable energy initiatives.The article delves into how this not only stifles innovation and development within the renewable sector but also exacerbates the global disparity in clean energy access. The focus is on finding solutions to this financial impasse through international cooperation and innovative financing mechanisms.It is crucial that stakeholders from both public and private sectors collaborate to overcome these financial challenges. Developing instruments to reduce the cost of capital, offering risk guaranties and leveraging funds from climate finance initiatives can prove vital in bridging the gap.The growth and accessibility of clean energy in emerging economies will depend heavily on how effectively these financial obstacles are addressed, thus ensuring a truly equitable energy transition.#RenewableEnergy #SustainableDevelopment #EmergingMarkets

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Empowering India's Energy Future: A Closer Look at the PM-Surya Ghar SchemeIn a significant move towards sustainable energy and economic empowerment, the Union Cabinet has recently given the green light to the PM-Surya Ghar scheme. With a massive outlay of Rs 750 billion, this groundbreaking initiative is poised to revolutionize the way India harnesses solar power and transforms the lives of millions across the country.Key Features of the PM-Surya Ghar Scheme:1) Subsidized Central Financial Assistance: Under the scheme, households can receive a generous Central Financial Assistance (CFA) of 60% of the system cost for rooftop solar systems up to 2 kW in capacity. Additionally, for systems between 2 to 3 kW capacity, households can avail 40% of the additional system cost. The CFA is capped at 3 kW capacity, providing substantial subsidies to make solar installations more affordable. At current prices, this translates to subsidies of Rs 30,000 for 1 kW systems, Rs 60,000 for 2 kW systems, and Rs 78,000 for 3 kW systems or higher.2) Collateral-Free Loans: To further facilitate the adoption of rooftop solar systems, households can access collateral-free loans at around 7% interest for installations up to 3 kW capacity. This financial support aims to remove barriers to entry and empower households to embrace clean energy solutions without financial strain.3)Economic Impact: The PM-Surya Ghar scheme is projected to add a staggering 30 GW of rooftop solar capacity and create 1.7 million direct jobs. This not only drives the transition towards renewable energy but also stimulates economic growth, fostering job creation and prosperity across various sectors.4)Model Solar Villages and Innovative Projects: As part of the scheme, model solar villages will be developed in each district of the country, serving as showcases for the potential of renewable energy adoption. Additionally, a fund will be allocated for innovative projects in rooftop solar technology, encouraging research and development in this critical area.5) Incentives for Urban Local Bodies and Panchayati Raj Institutions: Urban local bodies and Panchayati Raj institutions are also encouraged to promote rooftop solar installations in their areas by availing incentives under the scheme. This decentralized approach empowers local communities to participate actively in India's energy transition.the scheme represents a significant milestone in India's journey towards a sustainable and inclusive energy future. The scheme holds the promise of transforming millions of lives while driving economic growth and environmental stewardship. As India embraces the power of the sun, it paves the way for a brighter, cleaner, and more prosperous future for generations to come.#solarenergy #renewableenergy #economicimpact #economicdevelopment #economicempowerment #solarpower #scheme #solarsolutions #renewablefuture #renewablepower Ggreen Connect Abhillabh Private Limited Vikas Ghate

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Funding the Growing Green Giants: World Bank Backs India's Clean Energy Journey with $1.5 Billion LoanThe World Bank just gave the green light for a massive $1.5 billion in financing to support India's low-carbon transition. This investment will fuel India’s goal of net-zero emissions by 2070 by supporting its renewable energy generation and storage capabilities. This financing measure will help scale up renewable energy projects, green hydrogen research, and stimulating investments. The end state will result in increased capability and reduced costs for India as one of the largest growing economies in the world goes green.The ripple effect of this financing will create jobs, reduce carbon emissions, and pave the way for a greener, brighter India. To learn more about the impact this financing will have, read the full article linked below.Link: https://loom.ly/s4sNgGs #SustainableIndia #RenewableRevolution #CleanEnergyFuture

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Asia Pacific Foundation of Canada has just released its latest report analyzing two-way investment trends between #Canada and #Indo-Pacific economies on renewables and clean technologies. According to our data, there has been a diversification away from China towards key economies in Southeast Asia and #Australia. Check out the report to learn more about the shifting investment landscape in the region. #Canada #IndoPacific #renewables #cleantech #climatesolutions

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The Union Minister of Commerce and Industry, Piyush Goyal while representing India at the announcement of the US-India Green Transition Fund underscored the impact of a joint green energy transition fund in aiding India to achieve its goals of renewable energy generation.The fund will be managed jointly by the US Development Finance Corporation (DFC) and India's National & Infrastructure Fund (NIIF).To spearhead sustainable change, India has set an ambitious target of 500 GW of installed renewable energy capacity by 2030 as part of its transition to clean energy. The crucial step is of course to secure funding, technological assistance and investment in research and development to ensure a seamless progress in the energy transition goals. #sustainability #greenenergy #renewableenergy #cleanenergy #sustainabledevelopment #AlayaLegalhttps://lnkd.in/dXJkuMJT

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Canada’s 2022 #IndoPacificStrategy identified #cleantechnology and #renewableenergy as priority sectors for future economic collaboration between #Canada and #Asia. Understanding major trends in the Canada-Asia renewable energy and electric vehicles (#EV) investment relationship over the past 20 years will better position today’s Canadian cleantech companies for successful integration into regional supply chains across the fast-growing and dynamic economies of the Indo-Pacific region.APF Canada’s Investment Monitor Reportprovides new insights into two-way foreign direct investment flows between Canada and Asia in the clean technology sectors of renewable energy and EVs.Read now:

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Check out our latest Investment Monitor report covering the deepening investment relations between Canada and Asia in clean technology.

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