Davos 2026: Uttar Pradesh strengthens investment pipeline with ₹12,000-crore clean energy, steel projects
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Uttar Pradesh (UP) reinforced its investment pitch at the World Economic Forum (WEF) Annual Meeting 2026 on Wednesday, signing a clutch of high-value memoranda of understanding (MoUs) spanning waste-to-energy, compressed biogas (CBG) and steel manufacturing, as the state sought to convert global engagements into bankable industrial commitments.
On Day 3 of the Davos meet, the UP government finalised investment proposals exceeding ₹12,000 crore, underscoring the state’s focus on green energy transition, circular economy models and large-scale manufacturing as part of its broader industrial growth strategy.
The state delegation was led by Suresh Kumar Khanna, Uttar Pradesh’s cabinet minister for finance and parliamentary affairs, and included senior officials such as Infrastructure and Industrial Development Commissioner Deepak Kumar, Chief Minister’s Office secretary Amit Singh, Invest UP CEO Vijay Kiran Anand, and Inderjit Singh, director of the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA).
₹8,000-crore waste-to-energy push
Among the key announcements, state-owned REC Ltd signed an MoU to develop 500 MW of agriculture waste-to-energy projects in Uttar Pradesh, involving a proposed investment of ₹8,000 crore. The projects are expected to address farm residue management while contributing to decentralised power generation, rural employment and cleaner energy sourcing.
January 2026
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The UP Government, in an official release, stated that this initiative aligns with the state’s efforts to integrate agri-based energy solutions into its power mix while supporting farm-sector incomes and reducing stubble-burning-related emissions.
Steel manufacturing investment strengthens industrial base
In the manufacturing segment, Rashmi Metallurgical Pvt. Ltd. committed an investment of ₹4,000 crore to set up a 1 million tonnes per annum (MTPA) integrated steel plant in the state. The proposed facility is aimed at strengthening Uttar Pradesh’s position in value-added steel production and supporting downstream industrial clusters in construction, infrastructure and engineering goods.
CBG, briquetting and carbon monetisation in focus
Clean energy and climate-linked investments featured prominently in the discussions. Carbon Compass Services LLP signed an MoU indicating an investment intent of ₹820 crore for setting up briquetting and compressed biogas plants across the state. The proposal also includes ₹30 crore earmarked specifically for carbon credit monetisation initiatives, reflecting rising investor interest in sustainability-driven revenue models.
Separately, Renergy Dynamics Private Limited partnered with the state to establish compressed biogas plants with a combined processing capacity of 70 tonnes per day. The projects are aligned with the Centre’s SATAT (Sustainable Alternative Towards Affordable Transportation) initiative and India’s Net Zero 2070 commitment, while also creating additional income streams for farmers through agri-waste aggregation.
Global corporate engagement widens investment pipeline
Beyond formal signings, the Uttar Pradesh delegation held meetings with a wide range of global and Indian corporations, including Tech Mahindra, Schneider Electric, Grundfos, Be8, Godrej, Philip Morris International, Adecco, Kübler Group and Rashmi Group, as well as academic engagement with Stanford University. Discussions covered clean technology, industrial infrastructure, water solutions, skilling, sustainability and innovation-led development.
Global majors such as AB InBev and Cisco IT also interacted with the state delegation to explore potential investment and partnership opportunities