Power Foundation, Climate Policy Initiative India ink pact to advance sustainable development in power sector

Power Foundation and Climate Policy Initiative India Pvt Ltd have signed an agreement to advance sustainable development in the power sector.

The pact was signed on March 15, 2023, in New Delhi in a ceremony held in the presence of Director General of Power Foundation Sanjiv Nandan Sahai, a statement said.

Power Foundation and Climate Policy Initiative India Pvt Ltd (CPI) have signed a memorandum of understanding (MoU) to work together to support India's transition towards a cleaner energy future.

The MoU was signed by Sambit Basu, Director (Programs) & Chief Energy Economist, Power Foundation, and Dhruba Purkayastha, Director, Climate Policy Initiative India. ''As India works to fulfil its global climate change commitments, collaborations like this one between CPI and Power Foundation are crucial,'' Basu said in the statement.

''Through our collaboration, we hope to promote the adoption of distributed renewable energy and develop sustainable financing mechanisms to support India's energy transition,'' Purkayastha said.

Power Foundation, a society registered under the Societies Registration Act, 1860, is a think tank and a policy & research advocacy body under the Ministry of Power and has been working to positively impact the changing energy landscape.

CPI is an organisation registered under the Companies Act, 2013, and a subsidiary of the international non-profit organisation Climate Policy Initiative.

Under the MoU, Power Foundation and CPI will work together to promote distributed renewable energy, capacity building of relevant stakeholders, support India's energy transition and manage transition-related risks.

This agreement intends to provide an overarching framework under which collaborations and partnerships may be developed between the two organisations in the areas of sustainable development of the power sector.