Business Standard

PM Modi's green dream at risk as Indian renewables hit by headwinds

Energy transition investments in India already lag behind other major nations, and now the cost of capital is increasing as global interest rates rise

Renewable energy, smoke

Photo: Bloomberg

It took less than two weeks for TotalEnergies SE to put a massive green hydrogen project with Adani Group on hold after the Indian conglomerate was rocked by allegations of fraud.
The deal — part of a plan in which billionaire Gautam Adani’s clean energy business would have invested $50 billion over the next decade in the emissions-free fuel — remains in limbo, a victim of Hindenburg Research’s explosive short-seller report.

The fallout is unlikely to be limited to the Adani empire. The brouhaha over the business practices of the group — which became one of the country’s biggest investors

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First Published: Mar 23 2023 | 7:27 AM IST

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