An Indian delegation participated in the inaugural Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum, which saw participation of 300 stakeholders, the Commerce & Industry ministry said on Thursday.

The delegation was led by Secretary, Department of Commerce, Sunil Barthwal. At the forum, the region’s top investors, clean economy companies, and start-ups came together to mobilise investments into sustainable infrastructure, climate technology, and renewable energy projects.

The first-of-its-kind Forum resulted in USD 23 billion in investment opportunities for sustainable infrastructure projects in the Indo-Pacific. The coalition estimates that its members, taken together, have over USD 25 billion in capital that can be deployed in Indo-Pacific emerging market infrastructure investments in the coming years.

DFC’s Board has also approved an equity investment as part of the USD 900 million Eversource Climate Investment Partners II fund, which will provide capital, management, and expertise to innovative companies using new and existing capabilities to address climate change in India and Southeast Asia.

During the two-day event, over 300 participants from financial institutions, multilateral development banks, venture capital funds, project owners, entrepreneurs and government agencies from IPEF partners actively participated under the Sustainable Infrastructure and Climate Tech engagement tracks.

The Commerce Secretary acknowledged the forum as a unique platform that brought global investors, project proponents, policy makers and academia under one roof which would be instrumental in advancing sustainable infrastructure in the Indo-Pacific Region.

Addressing the investor forum under IPEF, he underlined the huge investment opportunities that India offers of more than USD 500 billion, particularly in the clean energy value chain including renewables, green hydrogen and EV and its infrastructure transition, by 2030.

He also highlighted key reforms around ease of doing business in India to improve business environment over the last decade.

In the Sustainable Infrastructure track, after the screening, four companies — ReNew Power, Avaada Energy Pvt Ltd, Indusbridge Capital Advisors LLP. Founder, SEIP, and Powerica Limited, from India — were shortlisted for pitching their concepts on energy transition, transport and logistics, and waste management/waste to energy to global investors.

Further, in the ClimateTech track, 10 Indian start-ups and companies namely BluSmart, Recykal, LOHUM, Sea6 Energy, EVage Ventures Private Limited, Kabira Mobility Private Limited, Batx Energies Private Limited, Newtrace and Alt Mobility, igrenEnergi, Inc, were selected to pitch their innovative ideas, technologies and solutions that contribute to mitigating or adapting to climate change.

The IPEF partners and the Private Infrastructure Development Group also announced the operational launch of the IPEF Catalytic Capital Fund.

The Fund’s founding supporters include Australia, Japan, the Republic of Korea, and the United States, which plan to provide USD 33 million in initial grant funding to catalyze up to USD 3.3 billion in private investment.