The Indian Renewable Energy Development Agency (IREDA) is allocating seed funding for setting up its Green Window for catalyzing private investment and expanding the clean energy market. With an initial allocation of approximately $20 million, the IREDA Green Window will target the unserved segments of renewable energy such as distributed solar, energy storage and access. The "IREDA Pioneering a Catalytic Green Window in India Fact Sheet" outlines the timelines and the framework for establishing the Green Window.
A Green Window is a new unit, or group, within an existing financial institution, with access to a dedicated ring-fenced pool of low-cost capital, and exclusively designed to grow clean energy markets. The Green Window approach positions public finance to activate greater private investment for mission-defined sectors by using strategies that include:
- risk mitigation,
- aggregation of small projects to diversify risk and to scale,
- strategic public-private co-investments,
- demonstration projects and market development activities.
The "Growing Clean Energy Markets in India with Green Windows Issue Brief" describes the Green Window concept, how it works, and the market impact in India.