Abstract

India’s ambition to achieve 500 gigawatts of renewable energy capacity by 2030 and Net Zero emissions by 2070 represents one of the most ambitious energy transitions globally. However the financial dimension of this transition remains the most critical determinant of its success. While falling technology costs have made renewable energy increasingly competitive the availability cost and structure of finance continue to shape the pace and inclusivity of deployment. In particular the mobilisation of private capital is indispensable given that public finance and multilateral aid alone cannot meet the scale of investment required. Against this backdrop innovative financial instruments and global benchmarking emerge as central themes in understanding how India can strengthen its renewable finance ecosystem. This paper examines the role of financial innovation in mobilising private capital for India’s renewable energy transition and situates these efforts within a comparative global framewor