The Lab in India

About

The Government of India has made it a national priority to drive development and access to electricity through cleaner growth, such as renewable energy and energy efficiency, including through an ambitious target of 40% of its electricity generation capacity from non-fossil fuel sources by 2030. However, India will need more capital, and at more attractive terms, in order to build the green infrastructure required.

Increasing investment from the private sector will be essential to driving the country’s infrastructure growth. Currently, high risks and other poor terms of financing may be limiting investment potential in India.

The India chapter was developed in response to this need for better investment vehicles. Launched in November 2015, the Lab in India is an extension of the Global Lab, operating as a public-private initiative that identifies, develops, and accelerates innovative solutions to finance infrastructure for renewable energy and other channels for green growth.

It is a first-of-its-kind initiative that aims to provide concrete solutions to the unique financing challenges to investment in green infrastructure in India. By addressing investors’ needs, it can unlock billions of dollars of private investment for clean growth in India.

The Indian Ministry of New and Renewable Energy has endorsed the India chapter and is a key stakeholder. The Lab in India has been hosted and funded by Shakti Sustainable Energy Foundation, with additional funding from the Swedish Development Corporation, David and Lucille Packard Foundation, the UK Department for International Development (DFID) and the Oak Foundation. Climate Policy Initiative’s team in India serves as the Lab Secretariat and provides analytical support.

Members

Principals and Advisors


Namita Vikas – Lab Principal
Founder & Managing Director, auctusESG


Philippe Serres – Lab Principal
Regional Manager, South Asia, PROPARCO, Agence Française de Développement

Jean-Baptiste Imatte – Lab Advisor
Investment Officer, PROPARCO, Agence Française de Développement, New Delhi Office


Sanjeev Aggarwal – Lab Principal
Managing Director & CEO, Amplus Energy Solutions Private Limited

Akhilesh Kumawat – Lab Advisor
Manager, Amplus Energy Solutions Private Limited


Mayank Choudhary – Lab Principal
Senior Investment Specialist, Asian Development Bank

Amit Kumar – Lab Advisor
Investment Officer, Asian Development Bank


Dipender Saluja – Lab Principal
Managing Director, Capricorn Investment Group


Dr. Sushanta K. Chatterjee – Lab Principal
Joint Chief of Regulatory Affairs, Central Electricity Regulatory Commission (CERC)

H.T. Gandhi – Lab Advisor
Deputy Chief of Finance, Central Electricity Regulatory Commission (CERC)


Jayant Prasad – Lab Principal
Executive Board Member, cKers Finance


Santosh Janakiram – Lab Principal
Partner, Cyril Amarchand Mangaldas

Mohan Kranti – Lab Advisor
Partner, Cyril Amarchand Mangaldas


Vinod K Kala – Lab Principal
Managing Director, Emergent Ventures India

Snigdha Kala – Lab Advisor
Investments, Emergent Ventures India


Ronnie Khanna – Lab Principal
Senior Energy Specialist, KfW Development Bank

Sashi Kumar – Lab Advisor
IGEN-ACCESS Programme, GIZ India


Shailesh Vickram Singh – Lab Principal
Co-Founder, GoMassive

Abhinav Tyagi – Lab Advisor
Analyst, GoMassive


Suvir S Davda – Lab Principal
Director, Global Market Corporate Services, HSBC India

Ankur Gupta – Lab Advisor
Sr. Manager, Corporate Risk Solutions, Global Markets Corporate Services, HSBC India


Aditya Aggarwal – Lab Principal
Partner, Infrastructure, IDFC Alternatives Limited

Mahendra Bisht – Lab Advisor
Director, IDFC Alternatives Limited


Gaurav Bhatiani – Lab Principal
Chief Operating Officer, IL&FS Trust Company Limited (ITCL)

Parag Baduni – Lab Advisor
Associate Director, IL&FS Trust Company Limited (ITCL)


Rajeev Kumar Gupta – Lab Advisor
Assistant Manager – Credit Monitoring, India Infrastructure Finance Company Ltd (IIFCL)


Venkataraman Rajaraman – Lab Principal
Senior Director and Head – Infrastructure and Project Finance, India Ratings & Research

Divya Charen C – Lab Advisor
Analyst – Infrastructure and Project Finance, India Ratings & Research


S.K. Bhargava – Lab Principal
Director of Finance, Indian Renewable Energy Development Agency (IREDA)

Debjani Bhatia – Lab Advisor
Assistant General Manager, Indian Renewable Energy Development Agency (IREDA)


Dr. Chandan Chowdhury – Lab Principal
Executive Director, Punj Lloyd Institute of Infrastructure Management, Indian School of Business

Kinshuk Saurabh – Lab Advisor
Associate Director, Punj Lloyd Institute of Infrastructure Management, Indian School of Business


Swapan Mehra – Lab Principal
CEO, IORA Ecological Solutions

Sriya Mohanty – Lab Advisor
Manager – Climate Policy, IORA Ecological Solutions


Prashant Sinha – Lab Principal
Head (Energy) – Credit Risk, L&T Infra Finance

Sanjeev Mishra – Lab Advisor
Team Manager – Energy Risk Vertical, L&T Infra Finance


Suranjali Tandon – Lab Principal
Professor, National Institute of Public Finance and Policy (NIPFP)


Rajesh Cherayil – Lab Principal
Managing Director, Nereus Capital


William Pegues – Lab Principal
Director, Structured Finance, Overseas Private Investment Corporation (OPIC)

Stephen Morel – Lab Advisor
Climate Finance Specialist, Overseas Private Investment Corporation (OPIC)


Chirag Mehta – Lab Principal
Senior Fund Manager, Quantum Asset Management


Kailash Vaswani – Lab Principal
Deputy CFO, ReNew Power

Nikunj Kathuria – Lab Advisor
Corporate Finance, ReNew Power


Shujaat Khan – Lab Principal
Founder and General Partner, RIDA Capital


Neeraj Jain – Lab Advisor
Assistant Vice President of Infrastructure, SBI Capital Markets


Paul Needham – Lab Principal
Chairman, Simpa Networks

Piyush Mathur – Lab Advisor
CEO, Simpa Networks


Pankaj Sindwani – Lab Principal
Head – Debt Origination and Syndication, Tata Cleantech Capital

Sunil Agrawal – Lab Advisor
Vice President, Tata Cleantech Capital

Guneet Singh – Lab Advisor
TAS Manager, Tata Cleantech Capital


Neeraj Menon – Lab Principal
Partner, Energy and Infrastructure team, Trilegal

Megha Kaladharan – Lab Advisor
Consultant, Trilegal


Sandy Sheard – Lab Principal
Head, Energy, Climate and Growth Unit,  UK Government

Amit Rama – Lab Advisor
Director, International Investment Team, Green Investment Bank, UK Government

Udit Mathur – Lab Advisor
Senior Advisor, Low Carbon Growth at DFID, British High Commission, UK Government


Gabriel Eric Naranjo – Lab Advisor
Field Investment Officer, India, USAID


Simon Stolp – Lab Principal
Lead Energy Specialist, India, World Bank

Amit Jain – Lab Advisor
Energy Specialist in Renewable Energy, World Bank

Deepak Malhotra – Lab Advisor
Investment Officer, International Finance Corporation (IFC), World Bank


Mentors

Praveen Kumar
Additional Secretary, Ministry of New and Renewable Energy


Veena Sinha
Director of International Relations, Ministry of New and Renewable Energy


Sharmila Chavaly
Former Joint Secretary, Ministry of Finance


Observers

AGNIi (Invest India)

Clean Energy Access Network

Council On Energy, Environment and Water (CEEW)

MacArthur Foundation

National Bank for Agriculture and Rural Development (NABARD)

National Resources Defense Council (NRDC)

Shell Foundation

Small Industries Development Bank of India (SIDBI)

Startup India (Invest India)

Tata Trusts

United Nations Environment Programme (UNEP)


Funders

Past and current funders of the Lab in India include:

The David and Lucile Packard Foundation

Oak Foundation

Shakti Sustainable Energy Foundation

Swedish Development Corporation

Cooling as a Service (CAAS) with Virtual Cold Chain Assistant (VCCA)

CaaS with VCCA helps smallholder farmers make decisions on lifecycle benefits, rather than upfront costs.

Financing for last mile cargo three wheeler electric vehicle

Financing for Last Mile Cargo Three-Wheeler Electric aims to unlock the electric three-wheel last-mile delivery market in India. This idea creates a debt financing platform to address the upfront cost barrier of obtaining delivery electric vehicles, and leverages a local EV manufacturer to further enhance community support and benefit. Based on the proponent’s estimates, the […]

Mangrove trees

GROVE: Forestry Smart Ledger (FSL)

The instrument combines satellite computer vision and remote sensing of biomass with blockchain verification of sustainable land-use impacts and restoration agreements to create performance rewards for Indian communities engaged in regenerative forestry.

Battery Subscription Facility

An electric bus battery financing mechanism to provide long-term debt financing to the electric transit sector in India, and reduce the ownership cost of electric buses to compete with diesel buses

Financing for Low-Carbon Auto Rickshaws

A facility to deploy more electric auto-rickshaws in Indian cities and provide better livelihoods for auto-rickshaw drivers, through a model that provides up to 100% debt financing at competitive rates, and opportunities for driver ownership

The Residential Rooftop Solar Accelerator

A vehicle to accelerate mass adoption of residential rooftop solar to power 200 million households in India, through standardized product offering, easy financing and efficient execution at scale

Solar Investment Trusts (SEITs)

A solar-specific investment trust to mobilize capital to the rooftop solar sector in India

Sustainable Energy Bonds (SEBs)

A class of bonds to drive impact investment to sustainable energy in India by offering debt exposure, sufficient returns, and standardized impact measures

The Matchmaker Service

A platform to drive needed private capital to sustainable urbanization projects in India by connecting investors and municipalities with a pipeline of investment opportunities

P50 Risk Solutions

Insurance to reduce the cost and increase the amount of long-term debt to the utility-scale renewable energy sector by transferring the risk of revenue uncertainty from banks to insurers, through a blending of commercial and donor capital

Rooftop Solar Private Sector Financing Facility

A facility to drive capital at a lower cost for financing rooftop solar projects in India, by providing long term financing through securitization

FX Hedging Facility

A hedging facility to facilitate large-scale foreign investment into renewable energy in India by providing a cheaper currency hedging solution

Loans4SME

A peer to peer lending platform to help SMEs operating in renewable energy and energy efficiency in India raise debt finance

Global Innovation Lab for Climate Finance Launches New Program to Increase Impact Through Replication

May 10, 2021

The new program focuses on the scale-up of successful climate finance solutions in new markets For 2021, the Lab will support the replication of three initiatives from the Lab’s portfolio Brazil and India are the target markets for the new program’s first replication cycle LONDON – The Global Innovation Lab for Climate Finance (the Lab), the only climate finance incubator […]

Webinar: The Lab Call for Ideas 2021

October 28, 2020

Download the webinar slides here. The Global Innovation Lab for Climate Finance is currently accepting proposals for innovative finance solutions that can unlock investment to tackle some of the most difficult climate and sustainable development challenges, especially those that also support a post-COVID, green economic recovery. Selected ideas, announced in February 2021, receive over 7 […]

The Lab launches eight new finance solutions to drive climate action and green recovery

September 28, 2020

Today, the Global Innovation Lab for Climate Finance (the Lab) launched eight innovative finance solutions to drive private resources to climate action in developing economies. After a thorough process of analysis, development and stress-testing, these solutions are ready to provide investment opportunities for a post-COVID, green economic recovery. The Lab, an initiative of over 60 […]

The Lab Welcomes ECube Climate Finance as India Panel Member

August 31, 2020

New Delhi—The Global Innovation Lab for Climate Finance (“the Lab”) is pleased to announce that ECube Climate Finance (ECF) has joined as a member of the Lab. ECF co-founders Harish HV and Shankar Venkateswaran will immediately join the Lab’s India panel. “ECF was founded to provide financial services and funds to mitigate adverse climate impact, […]

Live Q&A: How to improve smallholders’ access to finance in sustainable farming systems

May 27, 2020

Download presentation As a part of Global Landscape Forum Digital Summit, CPI Senior Analysts Daniela Chiriac and Tatiana Alves participated in a live Q&A session on how to improve smallholders’ access to finance in sustainable farming systems.  Five entrepreneurs from the Lab joined the session to share their practical experience in developing climate finance instruments […]

Five trees or a latte?

April 7, 2020

2020 Lab finalist GROVE: Forestry Smart Ledger was featured by Reuters, in an article highlighting the catalytic potential of the instrument. GROVE “plans to launch an app and website in the next six months using blockchain technology to crowdsource donations for mangrove restoration projects across India and Southeast Asia that would add 1 billion mangrove […]

New Energy Nexus grows investment to build cKers Finance Sustainable Energy Bond

March 12, 2020

New Delhi — New Energy Nexus recently announced that it is increasing its exposure in India by investing in the cKers Finance Sustainable Energy Bond (SEB), a specialized green bond instrument developed in partnership with the Global Innovation Lab for Climate Finance (the Lab). “Overall, cKers Finance has helped deploy over $30 million in the last […]

Yahoo News: New Energy Nexus and cKers Finance Grow Investment Partnership to Build New Distributed Solar Segments in India

March 11, 2020

Yahoo News reports that the financial innovation program of New Energy Nexus announced that it is increasing its exposure in India by investing in the cKers Finance Sustainable Energy Bond (SEB). The Global Innovation Lab for Climate Finance endorsed SEB in 2017, via its program in India. “The impact reporting measures of the bond have […]

The Lab selects new green finance instrument to drive sustainable investment in India

March 5, 2020

India program also welcomes new members GoMassive Earth Network and RIDA Capital, and new observers AGNi and Startup India March 5, New Delhi – Today, members of the Global Innovation Lab for Climate Finance (the Lab) announced the top green finance idea in India, among the eight winners of its annual competition.  The Lab is […]

The Lab announces 2020 program winners to mobilize investment for sustainable cities, energy access, nature-based solutions, and sustainable agriculture

March 5, 2020

Mar 5, 2020 LONDON – The Global Innovation Lab for Climate Finance (the Lab), an investor-led initiative that identifies, develops, and launches promising solutions to drive critical public and private investment to action on climate change in developing countries, has selected its top eight ideas for 2020, the 6th year of its annual competition. The Lab […]

The Lab’s 41 climate finance instruments accomplish $2 billion in sustainable investment

December 9, 2019

Since 2014, the Global Innovation Lab for Climate Finance has launched 41 innovative climate finance instruments that have collectively mobilized $2 billion in investments from public and private investors. It is currently accepting ideas of innovative instruments for the 2020 cycle. 13 December 2019 London – This week, as world leaders gather in Madrid for […]

Webinar: The Lab Call for Ideas 2020

November 19, 2019

 Download here the presentation for this webinar. The Global Innovation Lab for Climate Finance is currently accepting proposals for financial instruments that can unlock investment to tackle some of the most difficult sustainable development challenges. In five years, the Lab has launched 41 innovative financial instruments that have collectively mobilized nearly US$ 2 billion […]

California Clean Energy Fund invests in India Lab instrument Sustainable Energy Bond

September 17, 2018

SAN FRANCISCO: The Innovations arm of the California Clean Energy Fund announced that it is investing $3 million in cKers Finance’s Sustainable Energy Bond issuance for India. These bonds are a new and innovative instrument, incubated by the India Innovation Lab for Green Finance in 2017, that allow impact investors to finance sustainable energy assets exclusively, […]

India Climate Dialogue: Financing initiative to boost the renewable sector

February 23, 2018

A public-private initiative composed of experts in sustainable investment from governments, development finance institutions and the private sector — called the Lab — has picked a new class of investment vehicles to drive much-needed finance to low-carbon, climate-resilient global development out of over 100 ideas submitted into a competitive pool. The nine new instruments would […]

CleanTechnica: New Finance Instruments Will Help Fund India’s Green Infrastructure Targets

November 21, 2017

Two new green finance instruments launched at the end of October by the India Innovation Lab for Green Finance are intended to help India meet its green infrastructure goals. The India Innovation Lab for Green Finance is one of four “Labs” set up by The Lab, a clean energy financing group which “identifies, develops, and […]

Investor group launches new investment vehicles for clean energy in India

October 26, 2017

New Delhi, 27 October 2017 – The India Innovation Lab for Green Finance – a group of investors and government representatives that accelerates green finance instruments to meet India’s green infrastructure goals – launched two new instruments that could help catalyze millions of dollars for clean energy in India. The launch is in partnership with […]

Four instruments move forward to drive investment for green growth in India

June 21, 2017

The India Innovation Lab for Green Finance – a group of public and private investors and finance experts on clean energy and green growth in India – continues to make progress on analysis and development of four innovative ideas for green finance instruments,   with the aim of launching them for implementation in the fall of […]

Loans4SME wins $50,000 from Village Capital, and completes transactions worth USD $5.7 million

April 30, 2017

Loans4SME is a 2015-2016 India Lab instrument that launched in April 2016 as a marketplace to catalyze cash-flow based loans for small businesses. Since July 2016, it has closed transactions with a total deal size of INR 38 crore, or USD $5.7 million. 80% of these transactions have been in support of SMEs in renewable […]

New class of transformative green finance instruments for India

March 27, 2017

New Delhi – The India Innovation Lab for Green Finance has selected three new ideas for green finance instruments to move forward for further analysis, development, and preparation for piloting. The new instruments for the India Lab’s 2016-2017 cycle could help catalyze millions of dollars for clean energy and sustainable urbanization in India. Through an […]

OPIC, the Government of India and Leading Foundations Announce New US-India Clean Energy Finance Initiative

December 16, 2016

Delhi, India, 16 December 2016—Today, during a signing ceremony at the Taj Mahal Hotel in Delhi, the US-India Clean Energy Finance (USICEF) initiative announced its formal launch.  The launch of USICEF marks a critical milestone on the commitment made between the United States and Indian Governments to mobilize finance for Indian distributed clean energy projects. […]

Investor network launches three new instruments to accelerate millions to renewable energy and green growth in India, and opens a new call for ideas

October 25, 2016

New Delhi, 25 October 2016 Today, the India Innovation Lab for Green Finance (the India Lab) announced endorsement of three innovative investment vehicles that will help drive millions of dollars of needed investment to India’s clean energy and green growth targets. This announcement is in partnership with the India Lab’s public and private Lab Members, including the […]

India Lab launches three new instruments

October 25, 2016

The India Innovation Lab for Green Finance (the India Lab) announced endorsement of three innovative investment vehicles that will help drive millions of dollars of needed investment to India’s clean energy and green growth targets. They include a rooftop solar financing facility, a new lending platform for green investments, and a currency exchange instrument. Read […]

Investor network seeks powerful, actionable ideas to drive finance for a low-carbon, climate-resilient economy

September 19, 2016

Submit ideas at http://www.ClimateFinanceIdeas.org New York—Today, in the margins of Climate Week, a network of investors, governments, businesses, and foundations launched a call for ideas to accelerate finance for climate mitigation and adaptation. “Nations and businesses have put forward strong targets for climate action, but implementation is still a challenge, particularly when it comes to investment,” […]

India Lab moves forward, selects four new ideas

February 26, 2016

The India Innovation Lab builds on the successes of The Global Lab, but adapts them to India’s unique opportunities and challenges. Following a successful call for ideas, the India Lab has selected four new ideas for green finance instruments to move forward in development. Read more

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

February 22, 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 […]

India Innovation Lab for Green Finance, a New Initiative Supported by Government and Business Leaders, Seeks Innovative Ways to Drive Finance to Cleaner Growth in India

November 12, 2015

Call for ideas to boost investment in green infrastructure in India to open November 23, ahead of COP21 NEW DELHI– Today, with the endorsement of the Government of India’s Ministry of New and Renewable Energy, a first of its kind initiative has been launched to identify and develop innovative finance instruments that can unlock investment […]

India Innovation Lab for Green Finance, a sister to The Global Lab

November 12, 2015

With the endorsement of the Government of India’s Ministry of New and Renewable Energy, The India Innovation Lab builds on the successes of The Global Lab, but adapts them to India’s unique opportunities and challenges. Read more