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The India Lab selects four innovative ideas to drive finance to renewable energy and green growth in India

24 February 2016

New Delhi – The India Innovation Lab for Green Finance has selected four new ideas for green finance instruments to move forward for development in the next phase of its inaugural year. Lab Members, consisting of experts from government, finance, renewable energy, and infrastructure, met on 22 February in New Delhi to vote on four ideas showing the most potential to drive more private investment and leverage public finance for India’s green growth targets, out of a list of 61 strong ideas that were submitted through an open call for ideas.

Ministry of New and Renewable Energy Joint Secretary Mr. Tarun Kapoor announced the winning ideas at the meeting, and applauded the swift progress made by the India Lab since its November 2015 launch.

The four winning ideas are:

- Loans4SME: A peer to peer lending platform to help small and medium enterprises operating in renewable energy and energy efficiency raise debt finance, using a credit rating algorithm that could significantly expand investment sources. The idea proponent is Aurus Lending Solutions.

- Rooftop Solar Private Sector Financing Facility: A facility to provide debt financing for rooftop solar PV projects that provide power to private sector offtakers using an aggregation and securitisation model. The idea proponents are the IFC and Azure Power.

-P50 Risk Solutions: A facility to reduce the cost of debt and increase the amount and to renewable energy projects by transferring revenue risk from banks to insurers, leveraging donor capital. The idea proponent is P50 Risk Managers.

-Renewable Energy Integrated Hedging, Equity and Debt Fund: A fund to facilitate large-scale international institutional investment into the Indian renewable energy space by managing currency risk and aligning the cost of capital with risk profile during and post construction. The idea proponent is RR Corporate Ltd.

The ideas will now undergo further analysis, stress-testing, and design refinement, through June of 2016. After, they could be endorsed by the India Lab and taken forward for piloting.

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