Picture of Gireesh Shrimali

Dr. Gireesh Shrimali has taught at the Middlebury Institute since 2012. His expertise is in economics, finance, business, and policy of energy, environment, and sustainable development. He is also highly interested in catalyzing finance towards climate-friendly technologies.

His research and teaching focus is on the following areas:

  • development of financial instruments for increasing the flow of attractive capital to renewable energy
  • ex-ante economic analysis of renewable energy policy, using optimization and cash flow models
  • ex-post analysis of renewable energy policy, using empirical as well as case-based methods
  • business models and policy for the diffusion of rural energy solutions

Dr. Shrimali’s accomplishments include setting up the Climate Policy Initiative’s India office and scaling it to 15 analysts. He also set up the India Innovation Lab for Green Finance to develop, analyze, and implement innovative financial instruments to catalyze climate finance. Lastly, he set up the India Clean Energy Finance Initiative, a project preparation and risk mitigation facility for distributed renewable energy projects in India.

His previous work also included research focus on renewable energy finance and policy: in general, on the catalytic role of finance in getting to the 2C climate target, and, in particular, on pathways for provision of low-cost, long-term capital for clean energy transition. His work has also included topics such as analysis of India’s renewable policies, the impact of federal and state policy on the development and deployment of renewable energy in the U.S., and business models for off-grid energy in developing countries.


Academic Degrees

PhD, Stanford University, 2007

MS, University of Minnesota, 1993

BTech, IIT Delhi, 1991


Gireesh Shrimali, Dan Reicher, 2020, “Instruments to Mitigate Financial Risk in Indian Renewable Energy Investments,” Book Chapter in Renewable Energy Finance: Funding the Future of Energy, Imperial College Press.

Gireesh Shrimali, Vivek Sen, 2020, “Scaling Reliable Energy Access in India: A Public-private Partnership Model,” Energy for Sustainable Development, 55: 69-81.

Gireesh Shrimali, 2020, “Making India’s Power System Clean: Retirement of Expensive Coal Plants,” Energy Policy, 139: 1-10.

Gireesh Shrimali, Divjot Singh, 2019, “Do Clean Energy (Equity) Investments Add Value to a Portfolio?”, Green Finance, 1 (2): 188-204.

Gireesh Shrimali, Vaibhav Singh, Vinit Atal, 2019, “A Payment Security Mechanism for Off-taker Risk in Renewable Energy Projects in India,” Journal of Structured Finance, Summer.