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India Lab for boosting investment in green infrastructure

New Delhi, Nov 15 (UNI) India Innovation Lab for Green Finance has launched an initiative to identify and develop innovative finance instruments that can unlock investment in building green infrastructure in the country, to meet its sustainable development goals.
It took this initiative with the support of Ministry for New and Renewable Energy.
In a statement, the organisation said this was a new platform that would draw on business and Government leaders to identify, select and help implement ideas for instruments that would mitigate risks and drive more investment for clean growth in the country.
The India Lab will also open a call for ideas on November 23 and the information on how to submit ideas will be available at its website.
It seeks ideas that provide concrete solutions to the unique financing challenges to investment in green infrastructure in India. These ideas should address investors’ needs, in order to unlock more private investment.
The Lab will apply the successes and lessons learned through its sister initiative, the Global Innovation Lab for Climate Finance, to the country's unique challenges and opportunities.
Ideas will be assessed based on their potential to unlock investment for green infrastructure in India, and to establish that they are actionable, catalytic, innovative, and replicable. Up to four winners will be announced in February, and will receive support and expert advice from Lab members to develop and implement the ideas over the course of the next year.
The Lab aims to develop innovative solutions to financing renewable energy, energy efficiency, and sustainable urbanization infrastructure.
It may be mentioned that the Government has been taking several initiatives and promoting maximum utilization of clean energy and the Kochi International Airport is an example in this regard.
The Kochi Airport had become the first airport in the world to be powered entirely by the solar. This move would save around 300,000 tonnes worth of carbon emissions over the next 25 years, which is equivalent of planting three million trees.
In keeping with its objective to resort to more eco-friendly measures, the Railways recently had set up a one megawatt solar power plant at Shri Mata Vaishno Devi Katra Railway Station in J&K. It is also planning to install solar panels at more stations across the country.
Top energy CEOs and experts during Prime Minister Narendra Modi’s roundtable on renewable energy in San Jose, California during his US visit were of the view that States and cities in India should be allowed to take the lead in clean energy initiatives and India has the makings of becoming the "clean energy world capital."

UNI RBE SHS 1304
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