Foundation leadership will meet with beneficiaries, private sector and government officials to support India’s renewable energy initiatives and G20 leadership to help reform international financial institutions
NEW YORK | March 15, 2023 ― The Rockefeller Foundation announced today that President Dr. Rajiv J. Shah, along with Power & Climate Foundation team leaders and Asia regional office, will meet with senior government and private sector officials in New Delhi and Mumbai. The Rockefeller Foundation team will step up its support for India’s renewable energy innovation efforts and leadership in international financial institution reforms that can unlock much-needed climate investment and sustainable development solutions in India and the world. They will also travel to witness a range of efforts being undertaken to build climate resilience across the country.
“For more than 100 years, the Rockefeller Foundation has stood with the people of India as they strive to make opportunity universal and sustainable,” said Dr. Shah. “The last time I was in India, in November 2019, we celebrated the launch of an ambitious new partnership with Tata Power to develop 10,000 rural microgrids. I also had the opportunity to visit a solar microgrid installation in Derni, Bihar, which was developed with the support of the Rockefeller Foundation, where I saw how affordable, reliable, renewable electricity can empower people and transform communities.”
Iinvesting in India’s renewable energy solutions
The Rockefeller Foundation first invested in solar microgrids in Bihar and Uttar Pradesh in 2009 to test, adapt and ultimately scale this renewable energy solution in India and the world. In 2015, the Foundation announced a US$75 million commitment to support rural electrification. Then in November 2019, the Foundation partnered with Tata Power to develop 10,000 rural microgrids across the country to reach 25 million people and ultimately help bring the cost of solar energy down to 15 cents per kilowatt hour . This work involves government, businesses, community organizations and energy service companies – creating a new and holistic ecosystem that powers solar microgrid installations in rural villages.
“Over the past decade, India has become a leader in large-scale solar projects, which in turn has spurred growth and investment in local manufacturing and small businesses,” said Ashwin Dayal, senior vice president for energy and climate at the Rockefeller Foundation. “As India’s leadership in renewable technologies – particularly green hydrogen, battery storage solutions, PV and wind – continues to advance, we expect the country to become a central player in the global renewable energy supply chain.”
“We at the Rockefeller Foundation are committed to making opportunity universal and sustainable. India is a priority for the Foundation and the leadership’s timely visit to India is a testament to our support for the country’s ambitious goals and unparalleled leadership on the sustainable development agenda,” said Deepali Khanna, Vice President, Regional Office for Asia, The Rockefeller Foundation.
“India’s renewable electrification initiatives are a testament to what is possible by harnessing innovation in the service of humanity,” said Dr. Shah. “As the host of the G20 and a rising global power, India is in a unique position to push for international action to address the challenges of this era. With India’s leadership, the world can ensure that today’s international financial institutions are positioned to better serve the lives of the world’s most vulnerable tomorrow.”
For the Rockefeller Foundation
The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology and innovation that enable individuals, families and communities to thrive. We work to promote the well-being of humanity and make opportunity universal and sustainable. Our focus is on scaling renewable energy for all, driving economic mobility and ensuring equitable access to healthcare and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.
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