India Propels Clean Economy Investments at Inaugural IPEF Investor Forum

New Delhi: India spearheaded efforts to bolster clean economy investments at the inaugural Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum. Led by Secretary of the Department of Commerce, Sunil Barthwal, the Indian delegation actively participated in the forum, signaling a firm commitment to advancing sustainable infrastructure, climate technology, and renewable energy projects in the Indo-Pacific region.

Commerce Secretary Barthwal hailed the forum as a unique platform that congregated global investors, project proponents, policymakers, and academia, emphasizing its instrumental role in propelling sustainable infrastructure development in the Indo-Pacific. He underscored India’s vast investment potential exceeding USD 500 billion, particularly in the clean energy value chain, including renewables, green hydrogen, and EV infrastructure transition, by 2030. Barthwal also spotlighted India’s key reforms to enhance the ease of doing business, fostering a conducive environment for investment over the past decade.

Over the course of the two-day event, more than 300 participants from financial institutions, multilateral development banks, venture capital funds, project owners, entrepreneurs, and government agencies from IPEF partners actively engaged in discussions under the Sustainable Infrastructure and Climate Tech engagement tracks.

In the Sustainable Infrastructure track, four Indian companies, including ReNew Power, Avaada Energy Pvt. Ltd, Indusbridge Capital Advisors LLP, and Powerica Limited, were shortlisted for pitching their concepts on energy transition, transport and logistics, and waste management to global investors.

Similarly, in the ClimateTech track, ten Indian startups and companies, such as BluSmart, Recykal, LOHUM, Sea6 Energy, and EVage Ventures Private Limited, were selected to pitch innovative ideas, technologies, and solutions contributing to mitigating or adapting to climate change.

Driving Investment Opportunities

The first-of-its-kind Forum generated USD 23 billion in investment opportunities for sustainable infrastructure projects in the Indo-Pacific. The coalition estimates that its members, collectively holding over USD 25 billion in capital, can be deployed in emerging market infrastructure investments in the region in the coming years.

Furthermore, the IPEF partners and 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 in emerging and upper-middle-income economies.

In another significant development, a coalition of investors, including Singapore’s Temasek and GIC, committed to injecting USD 25 billion in infrastructure investments in emerging markets as part of an economic alliance between the US and several Asia-Pacific countries.

Inking Strategic Agreements

The event witnessed the signing of an Offtake Agreement between Sembcorp Green Hydrogen India Private Limited, Kyushu Electric, and Sojitz for the production and export of 200 KTPA green ammonia from India to Japan. The agreement aims to increase green ammonia capacity, aligning with India’s National Green Hydrogen Mission objectives.

Fostering Innovation and Collaboration

During interactions with Indian companies and startups, Additional Secretary of the Department of Commerce and India’s Chief Negotiator for IPEF, Rajesh Agrawal, elaborated on how the IPEF Agreements will facilitate investments, concessional financing, joint collaborative projects, workforce development, and technical assistance for industries, particularly MSMEs.

Nivruti Rai, Managing Director and CEO of Invest India, expressed enthusiasm for the Forum’s establishment, highlighting its focus on fostering the transition to a clean economy in the Indo-Pacific region through mutual growth and innovation. She emphasized India’s commitment to sustainable development and economic progress, underscoring the nation’s reliance on investors to drive critical sectors forward.