India has formulated a draft proposal requesting $70 million in financing from the Climate Investment Funds (CIF). These funds will be utilised to boost energy storage system (ESS) infrastructure and strengthen grid projects. This initiative is part of India’s Renewable Energy Integration Investment Plan (REI IP), formulated by the Ministry of Finance and the Ministry of New and Renewable Energy (MNRE). Of the requested amount, $5 million is intended for technical assistance, including project preparation and capacity building.
CIF supports climate-resilient planning and provides long-term, low-cost financial solutions to promote climate objectives in developing economies. India’s government has highlighted the need for ESS, grid infrastructure, and technical support, and seeks to mobilise projects worth $1.1 billion with funding from partners such as the Asian Development Bank, World Bank, and private entities. Key areas of focus include: ESS deployment to support round-the-clock renewable energy through advanced grid management and storage at the state level, Infrastructure strengthening and technical assistance for renewable energy grid integration.
The financing and assistance are expected to enhance RE integration, aid zero-carbon electricity adoption, and encourage private investment. The REI IP aims to expand renewable generation by 1,500 MW and add 2,800 MUs per year of renewable energy, build 1,500 MWh of energy storage capacity, develop 3,700 ckm of 33 kV distribution lines and 580 ckm of 400 kV transmission lines and reduce CO₂ emissions by 3.2 million tonnes of carbon dioxide per year.
With an anticipated creation of 13,500 green jobs, the plan aims to improve electricity reliability, diversify energy resources, and enhance resilience to climate-related disruptions. Stakeholders have two weeks to provide comments on the draft REI IP.
