India's G20 presidency: Government plans low-cost energy financing

19 May 2023 CW Team

Kumar further highlighted the government's commitment to achieving universal access to clean energy and addressing the challenges posed by deep decarbonisation and hard-to-abate sectors. The ETWG is diligently identifying priorities and estimating low-cost financing options to present to the G20 leadership.

Kumar stressed the importance of affordable finance for promoting these technologies in the fight against climate change, emphasising the government's focus on selecting appropriate technologies and securing low-cost financing. He emphasised the necessity of substantial public finance to reduce the financing costs of clean energy projects in developing countries, where the majority of action is required.

Kumar expressed the G20 community's responsibility to ensure that countries embarking on the path of development receive sufficient fund flows and affordable finance, ensuring equitable access to the benefits of progress.

During the event, Bhupinder Singh Bhalla, Secretary of the Ministry of New and Renewable Energy, emphasised the need for robust policy commitments, citing policy and regulatory stability, transparency, and predictability as essential factors for attracting investments.

Hosted by the Ministry of New and Renewable Energy (MNRE) and the International Renewable Energy Agency (IRENA) in collaboration with the Indian Renewable Energy Development Agency, the official side event titled "Low-cost Finance for New & Emerging Energy Technologies" took place in Mumbai on May 15, 2023, as part of the G20 ETWG meeting under India's G20 Presidency. The event brought together policymakers, financial institutions, and technology developers to discuss cost-effective financing estimates for energy transition based on emerging critical technologies such as hydrogen, offshore wind, energy storage, and carbon capture utilisation and storage.

At the event, the report "Low-Cost Finance for Energy Transition," prepared by IRENA in partnership with MNRE under the G20's India Presidency, was unveiled.

Also Read
HP govt focuses on business-friendly environment and investment
Will Government Spending Accelerate Construction?

The government is developing an interest subvention scheme to aid the energy sector's adoption of clean energy and energy efficiency technologies, revealed Alok Kumar, the Power Secretary. Speaking at the third Energy Transition Working Group (ETWG) meeting during India's G20 Presidency, Kumar stated that India is formulating a scheme to support the deployment of expensive emerging energy efficiency technologies, offering interest subvention. It's under consideration. He emphasised the need for initial support such as viability gap funding (VGF) and priority lending to facilitate the widespread implementation of new technologies. Kumar further highlighted the government's commitment to achieving universal access to clean energy and addressing the challenges posed by deep decarbonisation and hard-to-abate sectors. The ETWG is diligently identifying priorities and estimating low-cost financing options to present to the G20 leadership. Kumar stressed the importance of affordable finance for promoting these technologies in the fight against climate change, emphasising the government's focus on selecting appropriate technologies and securing low-cost financing. He emphasised the necessity of substantial public finance to reduce the financing costs of clean energy projects in developing countries, where the majority of action is required. Kumar expressed the G20 community's responsibility to ensure that countries embarking on the path of development receive sufficient fund flows and affordable finance, ensuring equitable access to the benefits of progress. During the event, Bhupinder Singh Bhalla, Secretary of the Ministry of New and Renewable Energy, emphasised the need for robust policy commitments, citing policy and regulatory stability, transparency, and predictability as essential factors for attracting investments. Hosted by the Ministry of New and Renewable Energy (MNRE) and the International Renewable Energy Agency (IRENA) in collaboration with the Indian Renewable Energy Development Agency, the official side event titled Low-cost Finance for New & Emerging Energy Technologies took place in Mumbai on May 15, 2023, as part of the G20 ETWG meeting under India's G20 Presidency. The event brought together policymakers, financial institutions, and technology developers to discuss cost-effective financing estimates for energy transition based on emerging critical technologies such as hydrogen, offshore wind, energy storage, and carbon capture utilisation and storage. At the event, the report Low-Cost Finance for Energy Transition, prepared by IRENA in partnership with MNRE under the G20's India Presidency, was unveiled. Also Read HP govt focuses on business-friendly environment and investmentWill Government Spending Accelerate Construction?

Infrastructure Urban

27 Oct 2025

Coal Ministry Achieves Milestones under Special Campaign 5.0

The Ministry of Coal and its Public Sector Undertakings (PSUs) have achieved notable milestones under the Special Campaign 5.0, focusing on cleanliness, operational efficiency, and sustainability across the coal sector. During the implementation phase from 2–31 October 2025, over 1,205 sites were cleaned, covering 68,04,087 sq ft, nearing the target of 82,51,511 sq ft. Scrap disposal of 5,813 MT against a target of 8,678 MT generated Rs 228.7 million in revenue. In addition, 1,11,248 physical and 30,331 electronic files were reviewed, with 74,123 weeded out or closed. Key initiatives showc..

Infrastructure Energy

27 Oct 2025

Vesting Orders Issued for Three Coal Blocks under Commercial Auctions

The Ministry of Coal’s Nominated Authority has issued vesting orders for three coal blocks under commercial coal block auctions on 23 October 2025. The Coal Mine Development and Production Agreements (CMDPAs) for these mines were earlier signed on 21 August 2025. The three blocks include Rajgamar Dipside (Deavnara), Tangardihi North, and Mahuagarhi. Of these, two are partially explored while one is fully explored, with a combined peak rated capacity of around 1 MTPA and geological reserves of approximately 1,484.41 million tonnes. These mines are expected to generate annual revenue of abou..

Infrastructure Urban

27 Oct 2025

TEC, IIT-Hyderabad Partner to Boost 6G and Telecom Standards

The Telecommunication Engineering Centre (TEC), technical arm of the Department of Telecommunications (DoT), has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology Hyderabad (IIT Hyderabad) for joint research and technical collaboration in advanced telecom technologies and standardisation. The partnership focuses on developing India-specific standards and test frameworks for next-generation networks, including 6G, Artificial Intelligence (AI), and Non-Terrestrial Networks (NTNs). It also aims to enhance India’s participation in international standardisation f..