New Delhi: India offers huge investment opportunities of over USD 500 billion by 2030, especially in the clean energy value chain including renewables, green hydrogen and EVs, the commerce ministry said on Thursday.
This was said by Commerce Secretary Sunil Barthwal, who is in Singapore for the two-day meeting of the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum.
The meeting, which began on Wednesday, brought together the region's top investors, clean economy companies and start-ups to mobilize investments in sustainable infrastructure, climate technology and renewable energy projects. The 14-member IPEF block will meet in Tokyo on May 23, 2022. It was jointly launched by the US and other partner countries in the Indo-Pacific region. Together, they account for 40 percent of the world's economic output and 28 percent of trade.This framework is structured around four pillars related to trade, supply chain, clean economy and fair economy. India has joined all the pillars except trade.
Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, USA and Vietnam are the members of this bloc. While inaugurating the IPEF Clean Economy Investor Forum, Barthwal described the forum as a Hailed as a unique platform that will bring together global investors, policy makers and academicians under one roof, it will be instrumental in advancing sustainable infrastructure in the Indo-Pacific region.
Addressing the forum, the Secretary underlined the huge investment opportunities that “India offers over USD 500 billion by 2030, especially across the clean energy value chain including renewables, green hydrogen and EVs and its infrastructure transition”. .
Barthwal also highlighted the major reforms around ease of doing business in India to improve the business environment in the last decade.During the two-day event, over 300 participants from financial institutions, multilateral development banks, venture capital funds, project owners, entrepreneurs and government agencies of IPEF partners actively participated under the Sustainable Infrastructure and Climate Tech engagement track.
In the sustainable infrastructure track, after screening, "four companies from India (Renew Power, Avada Energy Pvt. Ltd., Indusbridge Capital Advisors LLP. Founder, SEIP, and Powerica Ltd.) presented their concepts on energy transition, transportation, and logistics. , and waste management/waste to energy for global investors,” the ministry said.
Similarly, in the Climate Tech Track, 10 Indian startups and companies (BlueSmart, Recycle, Lohum, C6 Energy, Eaves Ventures, Kabira Mobility, Batx Energies, Nutres and Alt Mobility, EgrainEnergy, Inc.) were invited to present their innovative ideas, technologies. Was selected for.and solutions that contribute to mitigating or adapting to climate change. Additionally, the ministry said the Forum resulted in investment opportunities worth US$23 billion for sustainable infrastructure projects in the Indo-Pacific.
The alliance estimates that its members collectively have more than US$25 billion of capital that can be deployed in emerging market infrastructure investments in the Indo-Pacific in the coming years.
The DFC (Development Finance Corporation) Board also approved an equity investment as part of the US$900 million Eversource Climate Investment Partners-II fund, which will leverage new and existing capabilities to address climate change. Will provide capital, management and expertise to innovative companies. India and South East Asia. It said IPEF Partners and the Private Infrastructure Development Group have announced the operational launch of the IPEF Catalytic Capital Fund, which will provide concessional financing, technology and innovation to expand the pipeline of quality, flexible and inclusive clean economy. Will deploy assistance and capacity building assistance.For example, infrastructure projects in emerging and upper-middle income economies, projects in development include a renewable energy platform in India.
The fund's founding supporters include Australia, Japan, Korea and the US, which plan to provide US$33 million in initial grants to catalyze up to US$3.3 billion in private investment.
It said, "A coalition of investors including Singapore's Temasek and GIC have committed to invest US$25 billion in infrastructure in emerging markets, part of an economic alliance between the US and several Asia-Pacific countries. “The event also saw the signing of an offtake agreement between Sembcorp Green Hydrogen India, Kyushu Electric and Sojitz for the production and export of 200 KTPA (kilotons per annum) of green ammonia from India to Japan.
Ministers from Singapore and Japan and Barthwal participated in the event.The agreement aims to scale up production and export of 200 KTPA green ammonia in Phase-I at Tuticorin Port in India (total 800 KTPA in 4 phases) and export to Japan. The above proposed project will enable production and export of green hydrogen and its derivatives to the country. It will further the objective of the National Green Hydrogen Mission implemented by India towards creating a global hub for hydrogen.
During the interaction with Indian companies and startups, Rajesh Aggarwal, Additional Secretary, Department of Commerce and India's Chief Negotiator for IPEF, said that the platform provides an opportunity to Indian companies and startups to seek funding and collaborate with global investors.
This was said by Commerce Secretary Sunil Barthwal, who is in Singapore for the two-day meeting of the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum.
The meeting, which began on Wednesday, brought together the region's top investors, clean economy companies and start-ups to mobilize investments in sustainable infrastructure, climate technology and renewable energy projects. The 14-member IPEF block will meet in Tokyo on May 23, 2022. It was jointly launched by the US and other partner countries in the Indo-Pacific region. Together, they account for 40 percent of the world's economic output and 28 percent of trade.This framework is structured around four pillars related to trade, supply chain, clean economy and fair economy. India has joined all the pillars except trade.
Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, USA and Vietnam are the members of this bloc. While inaugurating the IPEF Clean Economy Investor Forum, Barthwal described the forum as a Hailed as a unique platform that will bring together global investors, policy makers and academicians under one roof, it will be instrumental in advancing sustainable infrastructure in the Indo-Pacific region.
Addressing the forum, the Secretary underlined the huge investment opportunities that “India offers over USD 500 billion by 2030, especially across the clean energy value chain including renewables, green hydrogen and EVs and its infrastructure transition”. .
Barthwal also highlighted the major reforms around ease of doing business in India to improve the business environment in the last decade.During the two-day event, over 300 participants from financial institutions, multilateral development banks, venture capital funds, project owners, entrepreneurs and government agencies of IPEF partners actively participated under the Sustainable Infrastructure and Climate Tech engagement track.
In the sustainable infrastructure track, after screening, "four companies from India (Renew Power, Avada Energy Pvt. Ltd., Indusbridge Capital Advisors LLP. Founder, SEIP, and Powerica Ltd.) presented their concepts on energy transition, transportation, and logistics. , and waste management/waste to energy for global investors,” the ministry said.
Similarly, in the Climate Tech Track, 10 Indian startups and companies (BlueSmart, Recycle, Lohum, C6 Energy, Eaves Ventures, Kabira Mobility, Batx Energies, Nutres and Alt Mobility, EgrainEnergy, Inc.) were invited to present their innovative ideas, technologies. Was selected for.and solutions that contribute to mitigating or adapting to climate change. Additionally, the ministry said the Forum resulted in investment opportunities worth US$23 billion for sustainable infrastructure projects in the Indo-Pacific.
The alliance estimates that its members collectively have more than US$25 billion of capital that can be deployed in emerging market infrastructure investments in the Indo-Pacific in the coming years.
The DFC (Development Finance Corporation) Board also approved an equity investment as part of the US$900 million Eversource Climate Investment Partners-II fund, which will leverage new and existing capabilities to address climate change. Will provide capital, management and expertise to innovative companies. India and South East Asia. It said IPEF Partners and the Private Infrastructure Development Group have announced the operational launch of the IPEF Catalytic Capital Fund, which will provide concessional financing, technology and innovation to expand the pipeline of quality, flexible and inclusive clean economy. Will deploy assistance and capacity building assistance.For example, infrastructure projects in emerging and upper-middle income economies, projects in development include a renewable energy platform in India.
The fund's founding supporters include Australia, Japan, Korea and the US, which plan to provide US$33 million in initial grants to catalyze up to US$3.3 billion in private investment.
It said, "A coalition of investors including Singapore's Temasek and GIC have committed to invest US$25 billion in infrastructure in emerging markets, part of an economic alliance between the US and several Asia-Pacific countries. “The event also saw the signing of an offtake agreement between Sembcorp Green Hydrogen India, Kyushu Electric and Sojitz for the production and export of 200 KTPA (kilotons per annum) of green ammonia from India to Japan.
Ministers from Singapore and Japan and Barthwal participated in the event.The agreement aims to scale up production and export of 200 KTPA green ammonia in Phase-I at Tuticorin Port in India (total 800 KTPA in 4 phases) and export to Japan. The above proposed project will enable production and export of green hydrogen and its derivatives to the country. It will further the objective of the National Green Hydrogen Mission implemented by India towards creating a global hub for hydrogen.
During the interaction with Indian companies and startups, Rajesh Aggarwal, Additional Secretary, Department of Commerce and India's Chief Negotiator for IPEF, said that the platform provides an opportunity to Indian companies and startups to seek funding and collaborate with global investors.
