India has ambitious renewable energy targets to meet growing energy demand. However, CPI analysis shows that the cost of debt in India increases the cost of renewable energy by as much as a third relative to the U.S. and Europe and is a significant challenge to these targets.


Our Focus

Climate Policy Initiative’s team in India works to increase investment to India’s renewable energy and green growth targets through a three-pillar approach: first, understand potential investors in renewable energy and the barriers they face; second, explore policy solutions to these barriers; and third, develop actionable financial instruments and implementation pathways. We work with the Ministry of New and Renewable Energy, the Ministry of Finance, and other policymakers to help advance India towards its clean development goals. The team is led by CPI Director Dr. Gireesh Shrimali.

Key Projects

  • The India Innovation Lab for Green Finance is a public-private initiative, led by CPI, to seek out and help implement novel solutions for unlocking and scaling up investment for green infrastructure in India. By addressing investors’ needs, it aims to drive new private investment for clean growth.
  • The US-India Clean Energy Finance (USICEF) initiative aims to drive access to energy in underserved regions of India, by supporting early stage development of distributed solar power projects. A partnership between the Indian Ministry of New and Renewable Energy, the Overseas Private Investment Corporation (OPIC), and a consortium of US foundations, USICEF provides project preparation support that will catalyze long-term debt financing for distributed solar power from OPIC and other international financial institutions. CPI serves as the Program Manager.
  • Institutional investors, both international and domestic, are the most promising investor class to help fill the investment gap between the amount of investment expected vs. required to meet India’s 2022 renewable energy targets. CPI analyzed their potential in detail, as well as barriers and recommended solutions to drive more institutional investment.


Partner Institutions

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CPI’s India program is registered with the name, “Climate Policy Foundation” under Section 8 of the Companies Act, 2013.

What's New In India


Bus Karo 2018

India Habitat Centre, New Delhi, April 5, 2018

Saurabh Trivedi, CPI’s Senior Analyst, will be speaking at the 12th edition of Bus Karo workshop hosted by WRI ...

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Webinar: Getting to India’s Renewable Energy Targets – A Business Case for Institutional Investment

March 26, 2018


Mobilizing investments by institutional investors is a requisite ...

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Greening institutional investment in India

March 20, 2018

India’s energy demand is increasing, and, to achieve its clean energy target of 175 GW by 2022, finance will ...

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Getting to India’s Renewable Energy Targets: A Business Case for Institutional Investment

March 15, 2018

This study finds that while the renewable energy sector in India offers an attractive investment opportunity that is well matched with the needs of institutional investors, there are still barriers to investment. 

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IEEFA’S Energy Finance Training

New York , March 12, 2018

Dr. Gireesh Shrimali, Director of Climate Policy Initiative's India program, presented on, "A comparison of renewable and fossil fuel based ...

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