Foundation leadership to meet with grantees, private sector, and government officials in support of India's renewable energy initiatives, and G20 leadership to help reform international financial institutions
NEW YORK, March 16, 2023 /PRNewswire/ -- The Rockefeller Foundation announced today that President Dr. Rajiv J. Shah, along with leaders of the Foundation's Power & Climate and Asia Regional Office teams, will meet with senior government and private sector officials in New Delhi and Mumbai. The Rockefeller Foundation team will reinforce their support for India's renewable energy innovation efforts and leadership on international financial institutions reforms, which can unlock much-needed investment into climate 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 around the country.
"For more than 100 years, The Rockefeller Foundation has stood with the people of India as they sought to make opportunity universal and sustainable," said Dr. Shah. "The last time I was in India, in November 2019, we were celebrating 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 micro-grid installation in Derni, Bihar, which was developed with support from The Rockefeller Foundation, where I saw how affordable, reliable, renewable electricity can empower people and transform communities."
Investing 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 across India and the world. In 2015, the Foundation announced a USD 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 in order to reach up to 25 million people, and ultimately help drive down the costs of solar power to 15 cents per kilowatt hour. This work has included government, businesses, community organizations, and energy service companies – creating a new and holistic ecosystem that drives solar microgrid installations in rural villages.
"Over the last decade, India has become a leader in large-scale solar projects that have in turn spurred growth and investment in local manufacturing and small businesses," said Ashvin Dayal, Senior Vice President for Power & 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."
"At The Rockefeller Foundation, we 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, Asia Regional Office, The Rockefeller Foundation.
"India's renewable electrification initiatives are proof of what is possible by harnessing innovation in service of humanity," said Dr. Shah. "As host of the G20 and a rising power global power, India is in a unique position to push for international action to address this era's challenges. With India's leadership, the world can ensure today's international finance institutions are positioned to better serve the lives of the most vulnerable around the world tomorrow."
About 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 flourish. We work to promote the well-being of humanity and make opportunity universal and sustainable. Our focus is on scaling renewable energy for all, stimulating economic mobility, and ensuring equitable access to health care and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.
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