Development banks, government officials, and industry experts converged in Mumbai at a New Development Bank (NDB) seminar to brainstorm new ways to fund India’s clean energy transition, according to a press-release from NDB. The gathering highlighted the push for creative financing options and cutting-edge technology to help India phase in low-carbon energy while keeping pace with escalating demand.
India faces a unique challenge—balancing rapid expansion in energy needs with the global pledge to slash emissions. Participants discussed the urgent need for large-scale investment in solar, wind, green hydrogen, and battery storage, urging that these upgrades are central to both climate targets and economic stability. NDB’s strategic plan (2022–2026) has set out to allocate a significant portion of its funding to climate projects and support local currency investments.
Dr. Rajiv Ranjan, Vice President and Chief Risk Officer at NDB, said India has already reached 50 percent non-fossil fuel electricity capacity ahead of schedule. “As we mark our 10th anniversary, we reaffirm our commitment to innovation, partnerships, and local currency financing,” noted Ranjan. Gurdeep Singh, Chairman and Managing Director of NTPC Limited, echoed the pivotal role of competitive funding and described NTPC’s shift towards renewables and new energy technologies.
Representing the Finance Ministry, Dr. Prasanna V. Salian emphasized the government’s drive for an equitable, affordable clean energy transition in line with India’s net-zero ambition by 2070. He stressed the need for multilateral organizations like NDB to mobilize funds and promote affordable, climate-smart solutions, citing Government of India flagship programs as key steps forward.
Speakers underlined that meaningful energy transformation in India—and across developing countries—depends on strong collaboration, policy alignment, and robust partnerships alongside technical breakthroughs and flexible capital.
The seminar wrapped up with NDB reiterating its commitment to building a future of sustainable growth and resilience, pledging ongoing support to advance clean energy in its member states.
