Inviting applications for the SAREP Grants Annual Program Statement (APS) – FY2024. For more information click Here.

Transparent, Best Value Procurement and Private Sector Investment

SAREP is working to expand private sector investments and enhance domestic and international finance for clean energy deployment. SAREP activities also enable improved procurement processes and governance, adoption of best-value procurement practices, promote PPP models, and improve the bankability of clean energy projects.

ANTICIPATED IMPACT

  • MOBILIZE: US$ 7 Bn investment in clean energy
  • ENABLE : Improved governance and bankability of clean energy projects
  • PILOT: New and innovative business models, sustainable procurement frameworks
  • DISSEMINATE : Knowledge and information on climate finance tools and instruments

KEY STAKEHOLDERS

  • Indian Renewable Energy Development Agency (IREDA)
  • NTPC-REL, World Bank, India
  • Infrastructure Finance Company Ltd (IIFCL)
  • Solar Energy Corporation of India (SECI)
  • Niti Aayog
  • Caspian Impact Investments

INTERVENTIONS

SAREP focuses on accelerating the clean-energy transition, enhancing private sector participation, advancing transparent procurement and market-based instruments, and facilitating clean energy financing. SAREP has identified several interventions under the following thematic areas:
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ENABLING DECARBONIZATION

SAREP is working with organizations on their financing strategies to develop innovative solutions to fund their clean energy targets

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NEW FINANCING INSTRUMENTS

SAREP is identifying and encouraging novel financing instruments that help in optimum utilization of existing capital sources and expansion of the investor pool to spur growth of clean energy.

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MOBILIZING PRIVATE INVESTMENT THROUGH PPPS

SAREP is providing technical support to ensure that investments in clean energy (energy storage, green hydrogen), energy efficiency, transmission, and distribution are enhanced through PPPs

Picture of a smart meter, dollar notes (denoting savings) and transmission towers (denoting smart grid)

MOBILIZING FINANCE FOR SMART METER PROGRAM

India aims to replace 250 million conventional meters with prepaid smart meters by 2025. SAREP will engage with development finance institutions to explore dedicated lines of credit on concessional terms for smart meters.

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BEST-VALUE PROCUREMENT

SAREP interventions focus on encouraging adoption of leading practices worldwide in the area of best-value procurement, and review existing competitive-bidding frameworks in South Asia.

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NOTE ON FRAMEWORK FOR SOVEREIGN GREEN BONDS

The Government of India (GOI) had announced its intention to issue maiden Green Bonds amounting to INR 160 Bn (USD 2 Bn) in Q4 of FY22-23.