Climate Policy Initiative and Power Foundation Sign Memorandum of Understanding to work together on supporting and building institutional capacities for India’s Energy Transition along a Just and Sustainable economic growth path. As per updated nationally determined contributions (NDC), reflecting India’s roadmap for a low greenhouse gas emission and climate resilient development pathway, the country has an enhanced target to reduce emissions intensity of its GDP by 45% by 2030 from 2005 levels, and achieve about 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. CPI’s Landscape of Climate Finance states climate finance flows are nowhere near estimated needs, conservatively estimated at USD 4.5 – 5 trillion annually. To achieve the transition to a sustainable, net zero emissions, and resilient world this decade, climate investment must increase drastically. Quoting Amitabh Kant, G20 Sherpa – “India might be the first country to industrialise without carbonising the world. India’s targets can be achieved much before the 2030 timeline if all stakeholders work together in this direction.” 15 March 2023, New Delhi: Climate Policy Initiative (CPI) and Power Foundation (PF) today signed a Memorandum of Understanding (MOU) to collaborate and develop partnerships in the field of sustainable development of the Indian power sector. Under this MOU, Power Foundation will build on CPI’s deep expertise in climate finance and policy. CPI will support Power Foundation’s research endeavours to support India’s transition to a sustainable energy future, help further renewable energy, and push for directing international climate finance into the country. CPI will provide support for training and capacity-building exercises. The MOU provides an overarching framework for collaboration between the parties. The MoU was signed in the presence of Shri Sanjiv Nandan Sahai, Director General of Power Foundation. Proposed areas of collaboration include deployment of distributed renewable energy (roof-top solar and off-grid solar), convening relevant stakeholders, and providing necessary logistic support for training and capacity building efforts. At the signing ceremony, Dr. Dhruba Purkayastha, Director of CPI India, said, “At Climate Policy Initiative, our aim is to support central and state governments towards transitioning to a sustainable energy future in India. We look forward to CPI contributing significantly to Power Foundation’s efforts to support India’s initiatives directed towards meeting its NDC targets along the Low Carbon Development Strategy submitted to UNFCCC. Our area of focus will include research and analysis, capacity building exercises, stakeholder engagements, and supporting distributed renewable energy deployment.” Dr. Sambit Basu, Director (Programs) & Chief Energy Economist of Power Foundation, added, “We are delighted to collaborate with Climate Policy Initiative India Private Limited in our mission to promote sustainable energy solutions in India. This collaboration will enable us to leverage CPI’s on-the-ground experience in renewable energy and climate finance and expand our capabilities to address the challenges of the power sector transformation in a more effective and efficient manner. We are excited to work with CPI and look forward to a fruitful partnership.” The MOU signed between CPI and Power Foundation reinforces each organization’s commitment to a sustainable energy future in India