India Unveils $500 Billion Investment Opportunities in Clean Energy and Other Sectors by 2030

India offers significant investment opportunities exceeding $500 billion, particularly in the clean energy sector, including renewables, green hydrogen, and electric vehicles (EV), by 2030, according to the Commerce Ministry. This announcement was made by Commerce Secretary Sunil Barthwal during the two-day Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum in Singapore.

The forum, which started on Wednesday, gathered top investors, clean economy companies, and start-ups 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 by the US and other Indo-Pacific partners, represents 40% of the world's economic output and 28% of global trade. India has joined all pillars of the framework except for trade.

During the inaugural session, Barthwal emphasized the extensive investment potential in India, specifically highlighting the clean energy value chain. He noted the key reforms made to improve the business environment in India over the last decade.

The two-day event saw active participation from over 300 attendees, including financial institutions, multilateral development banks, venture capital funds, project owners, entrepreneurs, and government agencies from IPEF partners. 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, logistics, and waste management to global investors.

Additionally, 10 Indian startups, including BluSmart, Recykal, LOHUM, Sea6 Energy, and EVage Ventures, were selected to present their climate tech solutions aimed at mitigating or adapting to climate change. The forum resulted in $23 billion in investment opportunities for sustainable infrastructure projects in the Indo-Pacific.

The IPEF partners, along with the Private Infrastructure Development Group, announced the operational launch of the IPEF Catalytic Capital Fund. This fund will deploy concessional financing, technical assistance, and capacity-building support to expand the pipeline of quality, resilient, and inclusive clean economy infrastructure projects. Founding supporters of the fund, including Australia, Japan, Korea, and the US, plan to provide an initial $33 million grant to catalyze up to $3.3 billion in private investment.

A notable agreement signed during the event was between Sembcorp Green Hydrogen India, Kyushu Electric, and Sojitz, to produce and export 200 KTPA (kilotonne per annum) of green ammonia from India to Japan. This project supports India's National Green Hydrogen Mission, aiming to position the country as a global hub for green hydrogen production and export.

The forum underscored the collaboration between Indian companies and global investors, providing a platform for funding and partnership opportunities in advancing sustainable and clean energy initiatives in the Indo-Pacific region.

HBL