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India's green investments to grow 5-fold to Rs 31 trn by 2030: CRISIL

2025-01-15 00:00:00.0 商业标准报-经济和政策原网页

India’s investments in green infrastructure and energy projects will grow five-fold over the next five years to Rs 31 trillion, according to market intelligence firm CRISIL.

“Based on government announcements, plans of corporates and on-ground progress, we estimate green investments of nearly Rs 31 lakh crore between 2025 and 2030, led by renewable energy (RE) with Rs 18.8 lakh crore, followed by oil and gas (Rs 3.3 trillion), and transport and automotive (Rs 4.1 trillion),” said S&P Global company in its infrastructure report for 2025.

According to CRISIL, this is a crucial part of an estimated $10 trillion investments needed through 2070 to achieve the country’s net-zero goals according to the Updated First Nationally Determined Contribution (NDC) under the Paris Agreement.

India’s NDC commitments include a 45 per cent reduction in the carbon intensity of its GDP by 2030 from 2005 levels, and an increase in the share of cumulative installed power capacity from non-fossil-fuel-based energy resources to 50 per cent.

The roads segment is one of the major contributors of carbon emissions, responsible for 90 per cent of CO2 emissions within the transportation sector. India’s decarbonisation strategy for road transport should include the creation of green financing pools through government-backed green bonds, setting up of a national decarbonisation fund and public-private partnerships, according to CRISIL.

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Innovative financing through routes such as asset monetisation should also be considered, especially as these have been successful in raising over Rs 1.1 trillion for National Highways Authority of India to-date.

“The funding should be allocated to key areas, especially towards sustainable construction materials, IoT-enabled road management and green logistics hubs. Attracting investments from global climate funds and leveraging carbon credits are crucial as well. The initial focus of the investments should be on high-traffic corridors, expanding gradually to rural areas. Also, a centralised body should oversee fund utilisation to ensure transparency and efficiency,” it said.

With the continuous increase in the central budget allocation to the Indian Railways, the production of RE by the railways will continue to grow rapidly, CRISIL said. “Increasing solar and wind energy production will not only help the Indian Railways achieve its net-zero carbon emissions goal, but also enable it to make a notable contribution to environmental conservation and reduce operational costs. To enable the same, supportive government policies, including subsidies for RE and streamlining of approvals, can accelerate the pace of decarbonisation for the Indian Railways,” it said.

For relatively high-risk projects such as green hydrogen, CCUS (carbon capture, utilisation and storage), energy storage and other emerging technologies, government grants and incentives will be crucial for project viability, CRISIL said.

“Reliance on equity will be high here and the private sector, specialised climate/venture funds and multilaterals will have a greater role. Further, blended finance and first-loss guarantee structures through multilaterals will be important to ensure scaling up of some of these technologies in the initial phase,” it stated.