Publication - Getting to India’s Renewable Energy Targets: A Business Case for Institutional Investment

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Title
Getting to India’s Renewable Energy Targets: A Business Case for Institutional Investment
Publisher
Climate Policy Initiative
Author
Labanya Prakash, Chavi Meattle and Gireesh Shrimali
Published in
May 2018
Abstract
Mobilizing investments by institutional investors, foreign and domestic, is a requisite for India to meet its clean energy targets. India needs an additional ~450 billion of capital by 2040 to reach ~480GW of renewable energy capacity. Foreign institutional investors with USD 70 trillion and domestic institutional investors with USD 560 billion of assets under management may prove crucial in fulfilling the financing requirements of this sector. In this paper, we develop a business case for institutional investors to invest into the renewable energy sector in India. We start by identifying key drivers for renewable energy investments in India. We then explore the alignment of the investment criteria of institutional investors with renewable energy. Finally, we discuss barriers to renewable energy investments as well as strategies to overcome them. To this end, we interviewed more than 50 foreign and domestic stakeholders, including: pension funds, sovereign wealth funds, family funds, investment advisors, developers, associations, regulatory authorities, brokerage houses, asset managers, and investment bankers.
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