ISA, in partnership with the NSEFI - National Solar Energy Federation of India, successfully concluded the second pre-workshop titled "Financing Mechanisms for Agrivoltaics in India." This impactful event occurred on September 9, 2024, at the Ministry of New and Renewable Energy (MNRE) office in New Delhi.☀️
The event was graced by Mr. Uwe Gehlen,Head of German Development Cooperation in India at the Embassy of the Federal Republic of Germany (German Embassy New Delhi) who initiated the discussion, and Dr. Dr. Nikhil Gakkhar, scientist D from MNRE, who provided guidance throughout the workshop.
Key Highlights from the Workshop:
🔹 Integrating Agrivoltaics into Existing Schemes: Discussions emphasized the need to incorporate agrivoltaics into existing schemes such as PM-KUSUM and to leverage additional funding mechanisms, including the Agricultural Infrastructure Fund (AIF) and carbon credits.
🔹 Addressing Initial Costs and Financing Challenges: Strategies were explored to lower initial costs, such as implementing subsidies and creating joint models between developers and farmers. The focus was also on innovative financing models, including crowdfunding for pilot projects and public-private partnerships for larger-scale implementations.
🔹 Lender Perspectives and Risk Mitigation: Addressing the high risk associated with agrivoltaics, especially for small and marginal farmers, was a key topic. Discussions included strategies to mitigate these risks and make agrivoltaics a more attractive investment.
🔹 Pilot Projects and Best Practices: The crucial role of pilot projects in demonstrating successful agrivoltaics models and encouraging broader adoption was emphasized. International best practices were also discussed as a way to inform and inspire local implementations.
This workshop marks the second of two pre-workshops organized by ISA and NSEFI, following the first workshop on policy and regulatory challenges held on August 21, 2024. The insights and outcomes from both workshops will significantly contribute to the high-level panel discussion at RE Invest 2024, ensuring a comprehensive and informed dialogue on agrivoltaics.
We are confident that these initiatives will greatly advance the agrivoltaics sector in India, aligning with our national renewable energy and agricultural objectives while addressing critical financing challenges. 🌱💡
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, NSEFI - National Solar Energy Federation of India, German Embassy, Benjamin Cherian, Chandan Dikshit, Dr. Nikhil Gakkhar, Adersh Asok, PhD, Jyotsna, Praphul Sharma, Gurleen Kaur, Ph.D., Jaymiin Gajjar, Hrishabh Chandra, Muskaan Sethi, Prasoon Anand, Sheenam Puri, Shubhang Parekh, Subrahmanyam Pulipaka, Sumit Anand, Swati Singh, Vaibhav Singh, Abhishek Shastri, Benjamin Clarke, Michael Köberlein, Florian Postel, Y.V.K.Rahul (AgriPV and Green Hydrogen)