Greening India's financial market: opportunities for a Green Bank in India

India is at a critical juncture in scaling renewable energy to provide energy access to growing cities and vast rural communities. Financing is one of the principal barriers to the rapid expansion of India’s clean energy market needed to meet the ambitious national target of 175 gigawatts (GW) of solar, wind, and other renewable energy by 2022, as well as the broader targets of the Paris Climate Agreement. Financing must be not only abundant, but also cheap, so that clean energy can compete with fossil fuels. Therefore plentiful, low-cost capital will allow India to transition to a clean energy platform while enabling continued economic growth.