ADVERTISEMENT
Global Energy Alliance for People and Planet (GEAPP) has deployed more than $100 million in India over the past three to four years, but its chief executive Woochong Um is clear that the real requirement runs into trillions. The strategy, he says, is not about the size of GEAPP’s own balance sheet but how effectively that capital can unlock larger pools of money.
“Our organisation is philanthropic and we demonstrate a new idea and new project. And then we stack that with other funders, for example, the multilateral development banks and private sector. We use the millions of dollars that we have to leverage billions, and then trillions,” Um told Fortune India. “The purpose is removing the risks that are associated to deploying something new by coming up with project structuring and technological know-how. Once you demonstrate that it’s doable, the perceived risk comes down.”
One lever that remains underutilised, Um argues, is the carbon market. Article 6 of the Paris Agreement allows both compliance credits and voluntary credits, but India has yet to fully capture this opportunity. “Unlocking the carbon finance would be another boost. India is a big country with many projects that can reduce greenhouse gas emissions, which can be crucial in mobilising climate capital,” he said. Affordable financing, he added, will depend not just on concessional flows but also on ensuring communities use clean energy in ways that expand income and improve economic viability.
August 2025
As India continues to be the world’s fastest-growing major economy, Fortune India presents its special issue on the nation’s Top 100 Billionaires. Curated in partnership with Waterfield Advisors, this year’s list reflects a slight decline in the number of dollar billionaires—from 185 to 182—even as the entry threshold for the Top 100 rose to ₹24,283 crore, up from ₹22,739 crore last year. From stalwarts like Mukesh Ambani, Gautam Adani, and the Mistry family, who continue to lead the list, to major gainers such as Sunil Mittal and Kumar Mangalam Birla, the issue goes beyond the numbers to explore the resilience, ambition, and strategic foresight that define India’s wealth creators. Read their compelling stories in the latest issue of Fortune India. On stands now.
That mix of demonstration projects and financial innovation underpins GEAPP’s work in India. For instance, Rajasthan is serving as a pilot site for AI-led grid optimisation, with the potential to improve efficiency by 20–40%. The project involves manually digitising substations and then deploying artificial intelligence to forecast demand and supply, reducing wastage and lowering the need for additional generation. “Testing it here is very important for people to see how it works in other places,” Um said, pointing to Nigeria, where policymakers are waiting to learn from India’s experiment.
Battery storage is another area where GEAPP has stepped in. In a crowded substation in Delhi, where new generators cannot be added, the alliance introduced storage systems that absorb electricity during low demand and release it during peak hours. Such demonstrations, Um said, can guide multilateral lenders and private players to follow with scale.
India’s role as a proving ground for clean energy is increasingly significant, not only for its own climate goals but for the broader Global South. “India, because of its size, political support, and innovative mindset of the people and private sector, is very important in making sure the globe continues to pursue a sustainable pathway,” Um said.
But scaling up, he pointed out, will hinge on creating a pipeline of bankable projects and regulatory clarity to attract investors. “Trillions will only happen if you mobilise private capital, which means there has to be a regulatory framework that investors feel safe about. And most importantly, are there enough bankable projects on the ground? That’s where the focus needs to be.”
Fortune India is now on WhatsApp! Get the latest updates from the world of business and economy delivered straight to your phone. Subscribe now.