India’s burgeoning renewable energy sector is poised to experience a shift in dispute resolution, as more conflicts are expected to bypass traditional electricity regulators in favor of arbitration, according to Senior Advocate Gourab Banerji. Speaking at a panel discussion during Singapore Convention Week 2026, Banerji, who also serves as the President of the Arbitration Bar of India (ABI), highlighted the increasing complexity and variety of disputes arising from renewable energy projects.
While tariff disputes remain under the purview of regulatory frameworks, Banerji noted that a plethora of other disputes—such as those involving Engineering, Procurement, and Construction (EPC) contracts, supply issues, operation and maintenance, storage, and shareholder disagreements—are suitable for arbitration. “Given the magnitude of renewable energy, a significant number of disputes will now occur outside the regulator’s jurisdiction,” Banerji stated. He expressed preference for arbitration or mediation supplemented by technical expertise over traditional regulatory intervention.
The discussion, part of the “Investing in India’s Future: Powering Growth Through Energy, Infrastructure & Legal Certainty” event, was held at Maxwell Chambers. The panel, titled “The Green Investment Playbook: De-risking Indian Renewable Energy Investments and Cross-Border Opportunities in Clean Energy, Energy Storage, and Transmission Assets,” was moderated by Poonam Verma Sengupta, Partner at JSA Advocates & Solicitors, and featured prominent legal and industry experts including AJ Jawad, Divyam Agarwal, Minn Naing Oo, and Montek Mayal.
Banerji emphasized the transformative nature of transitioning from conventional thermal power to renewable energy, describing it as a “paradigm shift.” This transition raises new questions related to grid connectivity, land acquisition, changes in law, payment issues, and technological performance. He pointed to significant uncertainties, particularly regarding risk allocation for grid connectivity.
Panellist Minn Naing Oo, an independent arbitrator with Arbitration Chambers, underscored payment risk as a primary concern in large-scale energy projects. He noted that even successful project completion could face financial jeopardy due to non-payment, potentially triggering defaults under financing arrangements. Naing Oo also highlighted currency fluctuations and cross-border fund movement restrictions as major concerns for foreign investors.
Divyam Agarwal of JSA Advocates & Solicitors emphasized the need for “certainty, clarity, and consistency” for foreign investors. He argued for greater transparency on which disputes are regulatory and which are arbitrable, while also cautioning against inadequate contractual mechanisms and policy shifts following government changes. Agarwal stressed the importance of arbitral seat selection for enforceability, stating, “It is not just about conducting arbitration; it’s about recovering the money. There’s no point in having an award you can’t enforce.”
AJ Jawad, Registrar of IAMC, advocated for institutional arbitration and specialist arbitrators in complex energy disputes. He recounted a case involving a ₹260 crore claim under ICC arbitration where the claimant ultimately recovered nothing, stressing the value of mediation and early dispute resolution. Jawad highlighted the cost-effectiveness of Indian arbitral institutions and their potential to identify technically proficient arbitrators.
Montek Mayal addressed the impact of energy transition on damages and valuation analysis, warning against assuming traditional power assets will operate consistently over long-term contracts. He noted the need for valuation exercises to factor in the energy transition’s effects, future regulatory costs, and technological advancements. Mayal advocated for scenario analysis and Monte Carlo simulations in damages assessments to present tribunals with a range of potential outcomes.
The panel concluded with discussions on the complexities of interconnected renewable-energy contracts, suggesting harmonization of dispute resolution clauses across various agreements to streamline arbitration processes.
