With Key Reforms, India To Be A Renewables Investment Hub

As per the report from the Institute for Energy Economics and Financial Analysis- IEEFA and Invest India, India is expected to become a major renewables investment destination, which will be driven by the next wave of reforms and policies.

The fact is that it is expected that the market will benefit from such reforms as the green energy corridor scheme, the privatisation of state electricity distribution companies, as well as various production-linked incentive schemes.

According to Energy Finance Analyst for IEEFA, Shantanu Srivastava, before the union budget 2023-24, under the green hydrogen mission, the approval by the government of an initial offering of Rs. 19,744 crore (US$ 2.43 billion) is the latest instance of a policy push which is going to position India as hub for green hydrogen export as well as entice global investors.

He further added that the investors will now be wanting a detailed segregation of the outlay for the PLI scheme for manufacturing of electrolyser and green hydrogen production under the aegis of Strategic Interventions for Green Hydrogen Transition programme of the mission on green hydrogen.

The report further said that another worldwide investment area includes novel technologies like battery energy storage systems and green hydrogen, as well as offshore wind.