Davos Summit: Karnataka Holds Investment Talks With ReNew Power, Xylem, Octopus Energy

Karnataka's Minister for Large and Medium Industries M B Patil held discussions with ReNew Power, Xylem Inc and Octopus Energy at the World Economic Forum in Davos, focusing on investment opportunities in renewable energy, water infrastructure and power-sector modernisation.

On the second day of the summit on Tuesday, ReNew Power, known for its solar, wind and hybrid power projects, briefed the Karnataka delegation on its proposed plans, while the state outlined its power grid infrastructure, opportunities in renewable energy generation and prospects in energy storage, according to a state government press release.

New York–based Xylem Inc, which specialises in industrial water supply and wastewater management systems, expressed interest in setting up a wastewater treatment plant in one of the state's industrial areas and undertaking a detailed study to assess efficient water supply mechanisms, technology deployment and related aspects. Based on the study, a system could be developed to supply water to industries at affordable rates, the minister said.

Octopus Energy, which works in smart meters, digital infrastructure, scientific tariff setting and grid modernisation, also held discussions with the delegation.

Talks focused on Vehicle-to-Grid (V2G) technology, which, if implemented, could offer significant cost benefits to consumers.

Patil said assurances had been given to facilitate discussions with BESCOM.

The meetings were attended by ReNew Power Chairman and CEO Sumant Sinha, Xylem Inc. Executive Vice President Albert Cho, and Octopus Energy Co-founder Stuart Jackson.