India is partnering with other 22 member countries in the ‘Mission Innovation’ on clean energy launched during Hon’ble PM Narendra Modi’s visit to Paris in November 2015 to drive forward clean energy innovation on a global scale.
Mission innovation aims to escalate the pace of clean energy innovation to achieve performance breakthroughs and cost reductions to provide widely affordable and reliable clean energy solutions that will revolutionize energy systems throughout the world over the next two decades and beyond.
The Department of Biotechnology (DBT) has been identified as nodal agency to coordinate national efforts in clean energy for Mission Innovation activities on behalf of Government of India. DST, Ministry of Power and MNRE are other ministries participating in addressing the challenges. India will be partnering in all the challenges. India will be leading the Smart Grids innovation challenge and co-lead the sustainable biofuels innovation challenge and is collaborating in all the challenges identified.
MI members aim to encourage increased engagement from the global research community, industry and investors while also providing opportunities for new collaborations among MI members. Commitment to MI envisions creation of jobs and building more low-cost broadly deployable clean energy options. Collectively MI members encompass over 80% of the world’s public funding for energy R&D. Under the initiative, members have pledged to double their collective investments in energy R&D funding of over USD 15 Billion annually to over USD 30 billion by 2021.
The first Ministerial meeting was held in June 2016 in San Francisco. The meeting identified consolidated MI doubling target and the innovation priorities. Subsequent to the Ministerial meeting discussions were held and recognized that targeted technology advances could accelerate breakthroughs and reduction in cost and launched 7 innovation challenges. These challenges are global calls to action that complement efforts already underway by MI countries.
In November 2016 Mission Innovation ministers gathered at COP22. Later, a clean energy R&D investment fund, named the Breakthrough Energy Venture (BEV) was announced by Breakthrough Energy Coalition (BEC), a group of entrepreneurs, business leaders and institutional investors committed to help bring promising new zero-emissions energy technologies to market.