Energy security is a critical priority for a developing country like India. We are rich in renewable energy resources, so the more energy we produce domestically, and the more equipment we manufacture to enable that, the safer and more resilient we become in the current context. India is thus increasingly focused on tapping all available local resources. That’s why the government continues to advance low-carbon solutions like green hydrogen and green ammonia to reduce import dependence and enhance strategic autonomy. Sumant Sinha, Founder, Chair & CEO of ReNewRecent geopolitical tensions have demonstrated the vulnerability of global energy supply. As countries scramble to become more resilient, ramping up renewable investments is becoming a key lever. Energy exporters have always had an outsized influence in global geopolitics. But the fallout of Russia’s invasion of Ukraine and the subsequent global energy crisis has elevated the potential of this lever to generate disproportionate economic impacts. Europe’s haste to replace Russian imports disrupted established supply chains, rerouted shipments meant for Asia and emerging markets, and elevated the bargaining power of alternative suppliers. This demonstrated a clear lesson: even in a globalized world, dependence on external suppliers can leave countries’ economies exposed, making energy independence a much stronger national security imperative. As a result, countries have been reassessing their exposure to external shocks. Governments across the globe are now weaving energy independence into national energy and industrial strategies, with renewables benefiting across a range of energy solutions. For example: Japan’s Strategic Energy Plan (2025) targets 60-70% of its power mix from domestic decarbonized solutions by 2040 (40-50% renewables and 20% nuclear, despite the challenges faced by the industry after the 2011 Fukushima disaster).42 South Korea’s 2022 Energy Policy Direction of the New Government seeks to cut reliance on fossil fuel imports from 81% in 2021 to below 60% by 2030, increasing nuclear to 30% of the mix and expanding domestic energy security measures.43 Türkiye’s 2022 National Energy Plan identifies its 70% import dependency as a critical vulnerability and commits to diversifying supply routes and boosting domestic renewables and nuclear as a response.44 Europe’s REPowerEU and Green Deal Industrial Plan aim to cut fossil imports while accelerating renewables, low-carbon hydrogen and domestic battery value chains. India’s Production Linked Incentive (PLI) schemes subsidize solar modules, advanced batteries and low-carbon hydrogen to reduce import dependence and build local capabilities – doubling solar capacity by 2030. This momentum suggests that energy security, not just climate ambition, can be a powerful driver of low-carbon investment – even as some countries also explore domestic fossil resources in parallel.OBSERVATION 4 Energy independence is an increasing driver of low-carbon investments Already a Multi-Trillion-Dollar Market: CEO Guide to Growth in the Green Economy 21

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