Description
This paper examines the political economy of hydropower in India since its reconfiguration as 'green' energy in the early 2000s. Despite India's significant hydropower potential, two-thirds of which remains untapped, the sector has faced challenges in attracting private investment. The paper explores the historical context and policy changes that have shaped the industry, highlighting the Indian state's role in framing hydropower as a climate-friendly alternative, and de-risking investments through the loosening of regulatory hurdles and dilution of environmental regulations. It thus characterises the emergence of a particular brand of “green developmentalism” in India that, while reflecting broader trends in de-risking a hyper-financialised sustainable development, takes a distinctive form. By critically analysing the state's strategies to promote hydropower, the paper contributes to broader debates on sustainable development within the imperative of energy transitions, and the political dynamics of infrastructure investment in the global South. It also addresses the complexities of multi-scalar governance, security concerns, and the interplay between domestic priorities and global environmental narratives. The research is grounded in extensive fieldwork and interviews, providing a nuanced understanding of India's hydropower policies since the sector’s rebranding as green energy, and their implications especially for the politics of India’s energy transition.
