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Clean industry projects worth $89 bn stall amid financing woes: Report
India's clean industrial projects pipeline worth $89 billion is facing financing bottlenecks as only one project has reached a final investment decision in the past six months, a report by a clean industry alliance showed.
The South Asian nation has 41 clean industry projects spanning green ammonia, hydrogen production and sustainable aviation fuels, yet faces challenges in converting announcements into operational facilities, the report by Mission Possible Partnership and Industrial Transition Accelerator said.
The alliance is focused on advancing decarbonisation in high-emission sectors.
India's clean industry projects have secured $13 billion in committed investment, far below China's $61 billion and the United States' $54 billion, according to the report.
The slow development of the market for clean commodities at the right price point was a major bottleneck for investments in India, said Faustine Delasalle, CEO of MPP.
"The higher costs of capital is an issue stifling investment across emerging and developing economies. We need to leverage the growing appetite from development and private finance institutions for clean industry developments," Delasalle said.
The report also highlights a global pipeline of about $1.6 trillion in projects that have been announced but not financed, with 692 of 826 commercial-scale clean industrial projects across 69 countries still awaiting financing.
"Less than 15 projects are currently reaching (a) final investment decision every year, delaying the climate, economic and social benefits associated with clean industrial developments," the report said, adding that policy uncertainty is also hampering progress.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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