The Union Ministry of New and Renewable Energy (MNRE) will soon hold a second round of consultations with state governments on critical issues including energy storage, the broader energy transition, and long-term power purchase agreements (PPAs), Union Minister of the ministry Pralhad Joshi has said.
This comes as India’s renewable energy sector is grappling with sizable delays in signing of PPAs with 80-90 GW projects under the pipeline and about 40-45 GW facing delays.
“Energy transition, energy storage and PPA are very serious issues, and we are consistently holding talks with states. We have already completed one round of talks with states, and very soon we will be holding the second round of talks,” Joshi said at the 6th CII International Energy Conference and Exhibition in New Delhi on September 22, 2025.
PPAs—long-term contracts between renewable developers and buyers—are widely considered the financial backbone of the renewable energy sector. They lock in power prices for years, enabling investors to hedge risks while ensuring utilities have access to predictable, clean power supplies.
Meanwhile, Maldives’ Minister of State for Environment and Tourism, Muaviyath Mohamed, outlined his country’s heavy reliance on fossil fuels, which account for 13.5 per cent of GDP and cost the island nation $150 million annually in subsidies.
“Energy security has rightly emerged as a top priority in the global agenda,” Mohamed said, stressing that the Maldives is targeting 33 per cent of electricity generation from renewables by 2028. Solar energy will be the backbone of this push, with Indian companies already showing investment interest. “We look forward to working with Indian partners and the International Solar Alliance to achieve our targets,” he added.
While India is pursuing large-scale integration of renewables with nuclear, storage and carbon markets, and the Maldives is focused on climate resilience through solar, both nations framed energy transition as a matter of economic security as much as sustainability.
“Clear policies and correct direction — spasht niti, sahi disha — are guiding India’s energy journey,” Joshi said. For Mohamed, renewables represent survival: “For small island states like ours, reducing dependence on imported fuel is not just about climate, it is about resilience and future prosperity.”
The convergence of perspectives underscored how India’s domestic energy reforms and its regional leadership through the ISA could play a decisive role in shaping renewable futures across South Asia and the Indian Ocean.