India is poised to offer substantial investment opportunities worth over USD 500 billion in the clean energy value chain, including renewables, green hydrogen, and electric vehicles (EVs), by 2030. This announcement was made by Commerce Secretary Sunil Barthwal during the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum in Singapore.
The two-day forum, which commenced on Wednesday, brought together top investors, clean economy companies, and startups from the region to mobilize investments in sustainable infrastructure, climate technology, and renewable energy projects. The 14-member IPEF bloc, launched on May 23, 2022, in Tokyo, represents 40% of the world’s economic output and 28% of global trade. The framework focuses on trade, supply chains, clean economy, and fair economy, with India participating in all pillars except trade.
During his address, Barthwal emphasized India’s significant investment potential in the clean energy sector and highlighted the country’s recent reforms aimed at improving the business environment. ‘India offers more than USD 500 billion in investment opportunities in the clean energy value chain, particularly in renewables, green hydrogen, and EVs, by 2030,’ Barthwal stated.
Four Indian companies—ReNew Power, Avaada Energy Pvt Ltd, Indusbridge Capital Advisors LLP, and Powerica Ltd—were shortlisted to pitch their concepts on energy transition, transport and logistics, and waste management to global investors. Additionally, ten Indian startups, including BluSmart, Recykal, LOHUM, and Sea6 Energy, presented their innovative climate tech solutions aimed at mitigating or adapting to climate change.
The forum resulted in identifying USD 23 billion investment opportunities for sustainable infrastructure projects in the Indo-Pacific region. The IPEF partners, together with the Private Infrastructure Development Group, announced the launch of the IPEF Catalytic Capital Fund, which will provide concessional financing, technical assistance, and capacity-building support for clean economy infrastructure projects in emerging and upper-middle-income economies. This initiative aims to catalyze up to USD 3.3 billion in private investment.
Significantly, a coalition of investors, including Singapore’s Temasek and GIC, committed to injecting USD 25 billion in infrastructure investments in emerging markets within the IPEF alliance. Additionally, an offtake agreement was signed between Sembcorp Green Hydrogen India, Kyushu Electric, and Sojitz to produce and export 200 KTPA (kilotonnes per annum) of green ammonia from India to Japan, supporting India’s National Green Hydrogen Mission.
