India has ambitious RE targets of 175 GW, which are now less than 5 years away. Where are we today? What’s missing, especially thinking at a systems level? Is finance the missing link? Are there lessons from other countries relevant for India?
- Pawan Agrawal (President, YES Bank)
- Gagan Sidhu (former CFO of GMR RE Ltd)
- David Victor (Brookings Institution, Washington D.C. and Professor, UCSD)
- Rahul Tongia (Brookings India) – Moderator
Pawan Agrawal is President (corporate finance) at YES Bank, one of India’s leading green lender. He specialises in Project Finance, Structured Finance and Corporate Finance, and was a key contributor to the Clean Energy Finance Forum’s report on finance for scaling RE, especially the Working Group on Domestic Capital.
David Victor is a globally recognized expert on issues of climate change and clean energy, focusing on institutional and political economy challenges in national and international policy. He leads the energy and climate change group at the Brookings Institution and is also a Professor of International Relations at UC San Diego, where he is the Director of the Laboratory on International Law and Regulation (ILAR).
Gagan Sidhu is a Renewable Energy Finance & Investment Banking professional. He currently advises several companies in the Indian solar space in both the distribution as well as utility scale segments. Sidhu was previously CFO for Renewables at GMR Group, a leading Indian Infrastructure developer.
Rahul Tongia is a Fellow with Brookings India, and leads the energy and sustainability group at Brookings India. His work focuses on technology and policy, especially for sustainable development. Tongia is also an Adjunct Professor at Carnegie Mellon University, and was the founder cum technical advisor for the Government of India’s Smart Grid Task Force.
This event is followed by a discussion on Climate Change: India, the US, and beyond in the late 2017 World.
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Indian Railways’ business model is based on passengers underpaying and freight overpaying. Already, in financial year 2016-17, coal’s extra freight charge increased the cost of power by about 10 paise per kilowatt on average. For power plants in distant states, which inherently rely on Railways for coal, this number can be three times higher.
Gujarat, Punjab, Tamil Nadu that are far from coal mines, and therefore pay more than others, will contribute proportionately more to recover the coaching loss — the passenger subsidy. This overpayment by coal-based power applies to all coal generation in States like Punjab as all their coal comes via Railways.