This paper explores the critical role of institutions and green finance in advancing renewable energy in Tamil Nadu, a leading state with around 20 GW installed capacity—10 GW from wind and 6 GW from solar. Despite its progress, Tamil Nadu faces structural, financial, and regulatory challenges including financing gaps, grid integration issues, and policy inconsistencies. The study assesses the contribution of institutions like MNRE, SECI, IREDA, RBI, NIIF, and TEDA in promoting clean energy and evaluates state-specific policies such as the Tamil Nadu Solar Policy 2019. It examines innovative financial instruments—green bonds, carbon credits, and climate funds—and their potential to attract private and foreign investments, especially for SMEs and IPPs. The paper highlights a research gap in understanding state-level institutional frameworks and financing barriers, proposing solutions like enhanced public-private partnerships, international cooperation, and the adoption of emerging technologies such as AI and blockchain for transparency and efficiency. Findings suggest the need for improved policy coordination, better infrastructure for grid integration, and increased access to green finance.
The study offers practical recommendations for stakeholders to strengthen institutional collaboration, promote investment, and support Tamil Nadu’s transition into a resilient, sustainable energy hub aligned with national and global climate goals.
Renewable energy, green finance, institutional framework, Tamil Nadu, energy transition, sustainable development
. Institutional Framework for Scaling Renewable Energy and Green Finance in India: A Special Focus on Tamil Nadu. Indian Journal of Modern Research and Reviews. 2024; 2(10):64-72
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