+
HSBC, ACPET discuss financing India's energy transition
POWER & RENEWABLE ENERGY

HSBC, ACPET discuss financing India's energy transition

Ashoka Centre for People-centric Energy Transition (ACPET) and HSBC bank jointly organised a conference to deliberate upon India's renewable energy policy, focusing on a "just transition," at the India Habitat Centre, New Delhi. The conference brought together leading organisations and experts in the field.

The conference also focused on ideating ways to contribute to"Energy Transition Financing", an HSBC funded project run by ACPET. The project is understanding financing issues, service challenges, and solutions of the clean energy transition at the rural household level in India, particularly GRID-based DISCOMS (at least 10 MW), to co-design solutions. It is focusing on studying 12 laggards and aspiring districts in Uttar Pradesh, Bihar and Jharkhand.

Some of the major issues discussed included  making energy transition sensitive to equity considerations; solving distribution problem across users from different socio-economic and geographic positions through domestic financing; and raising funds through green bonds, impact investing and crowd funding.

ACPET was launched in March 2023 by Ashoka University with a vision to become a knowledge institution in support of economic growth, energy security and net-zero targets of India and the Global South.

Delivering the keynote address, Dr Anil Kumar Jain, former IAS officer and the Chairperson of Petroleum and Natural Gas Regulatory Board, said, "When there is such a large overarching transition underway, the tendency is to go for the hyperbole. There can be all kinds of estimates that can be put forward in terms of financing and the ways to go about it but we have to look at the ground and stay firmly planted there. One has to engage with the context and whether on the demand or the supply side, come up with solutions that speak to that reality. I think the centre and its researchers are doing some insightful work in this regard and we hope to build that further".

Dr Jain has led multiple initiatives in the space of energy transition under various ministries and policy teams in the Government of India, such as stints as the Secretary in the Ministry of Coal and Ministry of Mines where he led reforms in sustainable mining and market development.

Speaking on the importance of such deliberations, Ashok Kumar, Director, Transform Rural India Foundation (TRIF), states, "It was great for all these diverse voices from the sector to come together under one roof, whether it be demand, supply, policy or finance- it was great to interact and learn from each one of them. For example, some participants view energy as a commodity while others look at it as a development outcome so the interaction between these different lenses was interesting and wherever we are, we ultimately cannot ignore the perspective of the end-user."

Explaining the vision, Vaibhav Chaudhary, Director-in-Charge of ACPET, stated, "ACPET has the vision to be a world-class knowledge institution in support of sustainable economic growth, energy security, and net zero ambitions of India and the Global South. We aspire to bring people-centric focus into our work and financing energy transition could be a key driver."

Ashoka Centre for People-centric Energy Transition (ACPET) and HSBC bank jointly organised a conference to deliberate upon India's renewable energy policy, focusing on a just transition, at the India Habitat Centre, New Delhi. The conference brought together leading organisations and experts in the field. The conference also focused on ideating ways to contribute toEnergy Transition Financing, an HSBC funded project run by ACPET. The project is understanding financing issues, service challenges, and solutions of the clean energy transition at the rural household level in India, particularly GRID-based DISCOMS (at least 10 MW), to co-design solutions. It is focusing on studying 12 laggards and aspiring districts in Uttar Pradesh, Bihar and Jharkhand. Some of the major issues discussed included  making energy transition sensitive to equity considerations; solving distribution problem across users from different socio-economic and geographic positions through domestic financing; and raising funds through green bonds, impact investing and crowd funding. ACPET was launched in March 2023 by Ashoka University with a vision to become a knowledge institution in support of economic growth, energy security and net-zero targets of India and the Global South. Delivering the keynote address, Dr Anil Kumar Jain, former IAS officer and the Chairperson of Petroleum and Natural Gas Regulatory Board, said, When there is such a large overarching transition underway, the tendency is to go for the hyperbole. There can be all kinds of estimates that can be put forward in terms of financing and the ways to go about it but we have to look at the ground and stay firmly planted there. One has to engage with the context and whether on the demand or the supply side, come up with solutions that speak to that reality. I think the centre and its researchers are doing some insightful work in this regard and we hope to build that further. Dr Jain has led multiple initiatives in the space of energy transition under various ministries and policy teams in the Government of India, such as stints as the Secretary in the Ministry of Coal and Ministry of Mines where he led reforms in sustainable mining and market development. Speaking on the importance of such deliberations, Ashok Kumar, Director, Transform Rural India Foundation (TRIF), states, It was great for all these diverse voices from the sector to come together under one roof, whether it be demand, supply, policy or finance- it was great to interact and learn from each one of them. For example, some participants view energy as a commodity while others look at it as a development outcome so the interaction between these different lenses was interesting and wherever we are, we ultimately cannot ignore the perspective of the end-user. Explaining the vision, Vaibhav Chaudhary, Director-in-Charge of ACPET, stated, ACPET has the vision to be a world-class knowledge institution in support of sustainable economic growth, energy security, and net zero ambitions of India and the Global South. We aspire to bring people-centric focus into our work and financing energy transition could be a key driver.

Related Stories

Gold Stories

Next Story
Real Estate

Prestige Estate Launches Rs 13.3 bn Residential Project in North Chennai

Prestige Estate Projects Limited has launched Prestige Palm Court, a residential development at Madhavaram in North Chennai, located on the Grand Northern Trunk Road. The project occupies seven point nine eight acres and is valued at Rs 13.3 bn, comprising 910 premium apartments across five towers with ground plus 22 floors and two basement levels for each tower. The development offers one, two and three BHK unit types with saleable areas ranging from 641 sq ft to 1,827 sq ft. The complete saleable area of the development is one point three eight million square feet (mn sq ft). As part of its ..

Next Story
Infrastructure Urban

Gaurs Group Buys 35-Acre Land Along Yamuna Expressway

Gaurs Group has acquired 35-acre land parcels along the Yamuna Expressway from ICICI Bank for around Rs 7 bn to develop residential projects as part of an expansion plan. The company purchased three land parcels in Sector 18 at an open auction and the largest plot measures 24 acres. The acquisition was reported to be on an as-is, where-is basis with the developer confirming it would settle outstanding dues including external development charges and farmer compensation. The group plans to use the 24-acre site as the primary location for a new launch and intends to roll out three to four housing..

Next Story
Infrastructure Urban

TIAA Global Capabilities Leases 255,713 Square Feet In Pune

TIAA Global Capabilities has leased 255,713 square feet (0.256 million square feet; 0.256 mn) at Panchshil Vantage in Wagholi, Pune, on a 10-year contract. The contractual rent over the term is Rs 320 crore (Rs 3.2 billion; Rs 3.2 bn) for the leased premises, the lease being recorded with P-one Infrastructure for the purpose of carrying out company operations. The move reflects an expansion of the firm's footprint in the city as it consolidates delivery and technology functions. The lease is set at Rs 92 per square foot per month, implying an initial monthly rent of about Rs 2.35 crore (Rs 23...

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code