Powering Viksit Bharat 2047: Maharashtra’s Pathways for Energy Transition

Welcome Breakfast

Inaugural Session: From Capacity to Reliability: Powering Maharashtra’s Next Phase of Transition

This opening session will set the strategic direction for Maharashtra’s energy transition, moving beyond capacity addition to ensuring reliable, affordable, and round-the-clock clean power. It will frame the state as a critical testbed for aligning growth, industrial demand, and sustainability imperatives.

Moderated by: 

Aparna Roy, Fellow & Lead, Observer Research Foundation

Session I: Rewiring the Power Market: Regulation, Tariffs, and the Future of Distribution

This session will examine how regulatory design and tariff-setting must evolve to reflect the realities of a transitioning power system, while addressing structural challenges in distribution. It will also explore the role of digitalisation and subsidy reform in improving operational efficiency, reducing losses, and strengthening service delivery.

Driving Questions:

• How can tariff-setting frameworks in Maharashtra evolve to balance cost reflectiveness with affordability, while maintaining political and social acceptability?
• What institutional and regulatory reforms are required to enable more transparent, predictable, and performance-linked electricity markets?
• In what ways can digitalisation—particularly smart metering and data systems—reshape accountability, reduce AT&C losses, and improve service delivery?
• How can subsidy regimes be redesigned to become more targeted, transparent, and fiscally sustainable without undermining access?

Moderated by:

Ashish Kumar Singh, Former Additional Chief Secretary, Transport & Ports, Government of Maharashtra; Distinguished Fellow, Observer Research Foundation

Session II: Securing Grid Stability: Integrating Renewables, Transmissions, Storage, and Flexibility

As renewable penetration increases, ensuring grid stability becomes central to system reliability. This session will examine how Maharashtra can manage intermittency and variability through a coordinated approach to transmission planning, storage deployment, demand-side flexibility, and advanced grid management systems.

Driving Questions:

• How can Maharashtra operationalise grid stability and intra-state transmission planning and capacity to keep pace with rising renewable energy penetration and variability?
• What institutional and investment frameworks are needed to ensure timely transmission build-out, particularly for renewable energy zones and emerging demand centres?
• What mix of storage solutions—battery, pumped hydro, or hybrid models—offers the most viable pathway for the state?
• How can demand-side flexibility, including industrial load management and time-of-day pricing, be scaled effectively?
• What role can digital technologies, forecasting tools, and smart grids play in enabling real-time balancing and system resilience?

Moderated by:

Ashish Kumar Singh, Former Additional Chief Secretary, Transport & Ports, Government of Maharashtra; Distinguished Fellow, Observer Research Foundation

Break

Session III: Financing the Transition: Fiscal Architecture and Investment Pathways

This session will examine the fiscal and financial architecture underpinning the power sector, focusing on DISCOM viability, capital mobilisation, and new financing instruments required to sustain the transition.

Driving Questions:

• What structural reforms are needed to address the persistent financial stress of DISCOMs and ensure long-term viability?
• How can Maharashtra leverage innovative financing instruments— such as green bonds, blended finance, and multilateral funding—to unlock investment at scale?
• What role can performance-linked incentives and fiscal transfers play in driving accountability and reform outcomes?
• How can risk be better allocated across public and private actors to crowd in private capital for grid, storage, and distribution infrastructure?

Moderated by:

Dhruba Purkayastha, Adviser, Observer Research Foundation

Session IV | Synthesis: Aligning the Transition: From Fragmented Reforms to System-Level Transformation

This closing discussion will bring together insights from across sessions to examine how Maharashtra can align regulatory, operational, and financial levers to deliver a reliable, affordable, and clean energy system.

Driving Questions:

• How can Maharashtra move from siloed reforms to a coordinated, system-level approach to energy transition?
• What institutional mechanisms are needed to align regulatory design, grid operations, and financial planning?
• How can state-level leadership drive coherence across multiple stakeholders, including government, regulators, and market actors?
• What lessons from Maharashtra can inform scalable and replicable models for other Indian states?

Moderated by:

Dhruba Purkayastha, Adviser, Observer Research Foundation

Networking Lunch