'India's green energy sector to attract $800 bn investment'

Investment in the Indian green energy sector could reach as much as $800 billion over the next decade, said Debasish Purohit, co-head of investment banking for Bank of America in India.

- Ranjani Raghavan & Anirudh Laskar

"The energy transition theme will attract $800 billion investment over the next decade. We expect investments from Indian corporates, foreign strategic investors and sponsors across the entire spectrum of energy transition including green hydrogen, storage and component manufacturing. India, given its scale, is a natural destination for strategic investors aiming for net-zero targets," Purohit said in an interview.

According to the investment bank, it expects the renewable energy sector to garner around $250 billion in investments over the next decade, batteries may attract $250 billion while supporting grid infrastructure and other segments such as green hydrogen, equipment and system may get $300 billion in total investment.