Climate Policy Initiative (CPI) and Power Foundation (PF) have signed a Memorandum of Understanding (MOU) to support India’s energy transition and promote sustainable development in the Indian power sector.
The MOU aims to build institutional capacities and partnerships to help India meet its nationally determined contributions (NDC), which include reducing emissions intensity of its GDP by 45% by 2030 from 2005 levels and achieving 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030.
Under the MOU, CPI will provide expertise in climate finance and policy to support PF’s research efforts and renewable energy initiatives.
Proposed areas of collaboration include deploying distributed renewable energy, convening relevant stakeholders, and providing training and capacity-building exercises. The signing ceremony was attended by Shri Sanjiv Nandan Sahai, Director General of Power Foundation.
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Dr. Dhruba Purkayastha, Director of CPI India, said that the collaboration aims to support central and state governments in transitioning to a sustainable energy future in India.
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Dr. Sambit Basu, Director (Programs) & Chief Energy Economist of Power Foundation, added that the collaboration would enable PF to leverage CPI’s expertise in renewable energy and climate finance and expand its capabilities to address the challenges of the power sector transformation more effectively.
The MOU signed between CPI and Power Foundation reinforces their commitment to a sustainable energy future in India.