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Indian cos in HSBC report


An HSBC report has named seven Indian companies likely to benefit from increased green spending.

The report ‘India’s climate change opportunities revealed’, recommended: ONGC, PSL Ltd, Reliance Industries, Shree Renuka Sugars, BHEL, Larsen & Toubro and Welspun Gujarat.

The country’s national action plan on climate change, supported by favourable policies has provided the impetus for investment in climate-friendly projects. The report forecast total investment of Rs7.6 trillion in 11 themes, with clean coal technology top of the list at Rs1.7 trillion, followed by wind at Rs1.34 trillion and bio fuels at Rs1.47 trillion.

India has the fourth-highest installed wind power capacity in the world. Highlighting India’s growing need for power the report notes, “Although power capacity increased only 21,180 MW under the last Five Year Plan, this is set to grow four-fold in the current planning period to more than 80,000 MW.”

Bio fuels also had large potential, the report said. The report pointed to the government’s backing of more efficient coal generation, such as supercritical and ultra-supercritical technologies that make use of higher pressures and temperatures to boost efficiency and cut emissions.

“Assuming a benchmark cost of Rs4.5 crore per MW, we estimate a capital investment of Rs1.7 trillion in supercritical technology over FY 2008-17. These investments are likely to result in annual emission savings of 28 million tonnes from 2017,” it said.

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