Niti Aayog Pushes for Innovative Funding for Renewable Energy

New Delhi, Nov 12 (PTI) Niti Aayog vice chairman Suman Bery on Tuesday pitched for innovative funding mechanisms to sustain renewable energy growth in private-sector-driven models.

Addressing a symposium on 'Green Transition in States', Bery highlighted the financial challenges in renewable energy expansion.

Niti Aayog CEO BVR Subrahmanyam stressed the need for cooperative federalism, noting the 'Accelerating Sustainable Solutions for Energy Transition' platform's role in providing states with the tools to develop viable, comprehensive green transition plans aligned with national goals.

Power Secretary Pankaj Agarwal outlined efforts to strengthen India's energy infrastructure to meet peak demands, noting the growing reliance on hydro and RE-based storage solutions.

MNRE Secretary Prashant Kumar Singh shared updates on the PLI scheme's positive impact on solar PV manufacturing capacity, the success of PM-KUSUM in promoting rural solar deployment and the importance of distributed solar initiatives under the PM Surya Ghar scheme contributing to India's goal of reaching 500 GW of renewable energy.

The symposium consisted of the two Best Practises Sessions with presentations from states, private firms, and think tanks.

Niti Aayog, in collaboration with the Ministry of Power and the Ministry of New and Renewable Energy, launched the ASSET platform -- Accelerating Sustainable Solutions for Energy Transition.