India requires $500 bn by 2030 for low-carbon power, hydrogen and mobility
A joint CEEW-GFC and Tata Sons report says India must secure $500 bn by 2030 to decarbonise power, green hydrogen and electric mobility, and that $10 bn of catalytic capital could unlock $50 bn of blended finance.
According to a report released by the Council on Energy, Environment and Water’s Green Finance Centre and Tata Sons, India needs $500 bn by 2030 to meet its climate targets across power, green hydrogen and electric mobility. The breakdown calls for $198 bn in the power and renewables sector, $115 bn for green hydrogen and the remainder for electric vehicles. The authors claim that $10 bn of catalytic capital could generate $50 bn of blended finance, with sector-specific catalytic needs of $1.5 bn, $5.9 bn and $2.7 bn respectively.
Between 2010 and 2022, India recorded $5.6 bn in blended finance transactions, representing 3.4 % of the global market. To scale up, the report recommends establishing a National Green Finance Institution, as suggested by NITI Aayog, to aggregate catalytic funds and deploy them through blended structures, while urging a conducive policy environment.
Why it matters
Securing the needed investment is crucial for India to cut emissions from sectors that generate most of its greenhouse gases.
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