- Collaboration expected to mobilise over INR 2700 crore over a five-year period
- Additional investments from AVPN member organisations PIDG and Kaizen Capital Management will mobilise concessional and private capital for infrastructure and explore an INR 300–400 crore skilling university in Uttar Pradesh, respectively
24 February 2026 | Singapore/ India: AVPN, the largest network of social investors in Asia,signed a Memorandum of Understanding (MoU) with The Government of Uttar Pradesh (GoUP) in Singapore, in the presence of Hon’ble Chief Minister Shri Yogi Adityanath, as part of the state’s investment outreach to deepen partnerships with global companies and investors. The collaboration is expected to enable the mobilisation of over USD 325 million (INR 2,700 crore) in investments over five years by building investment-ready pipelines, strengthening project preparation, and improving transaction readiness. The partnership will focus on mobilising investments across clean energy, clean transport, climate technology manufacturing, sustainable agriculture, and other climate-positive sectors to support the state’s ambition to build a USD 1 trillion economy.
Shri Yogi Adityanath, Chief Minister of Uttar Pradesh, said: “Uttar Pradesh welcomes global investors committed to Asia’s growth story. This is the era of Asian leadership to solve some of the biggest challenges such as climate change. We have worked consistently to create a conducive policy environment for business and investment. This partnership with AVPN reflects our commitment to mobilising capital for climate-resilient and inclusive growth, and we look forward to working together to accelerate investments into priority sectors.”
The collaboration marks a first-of-its-kind partnership between a subnational government in India and the largest pan-Asia social investment network to mobilise catalytic and private capital towards climate-aligned growth.
Patsian Low, Chief of Markets and Deputy CEO at AVPN, said: “AVPN represents the potential of unlocking new forms of capital in an evolving world order. AVPN is committed to mobilising catalytic capital for impact at scale across Asia. Uttar Pradesh’s growth trajectory and policy momentum present a strong opportunity to demonstrate how public–private collaboration can unlock new capital for climate-aligned development. Chief Minister Shri Yogi Adityanath’s work is an important example of the kind of Asian leadership that can translate intent to action. We look forward to working closely with the Government of Uttar Pradesh and our network to support the state’s ambition to build a USD 1 trillion economy through investable opportunities in clean energy, clean transport, clean technology manufacturing, and other climate-positive sectors.”
Under the partnership, AVPN will deploy philanthropic technical assistance alongside its network of over 700 members to support the mobilisation of capital across instruments such as debt, equity, guarantees, and blended finance. The Government of Uttar Pradesh will support implementation by facilitating access to data, enabling regulatory clearances, and establishing co-ordination mechanisms with line departments to accelerate the movement of opportunities from concept to investment decision.
Initial areas of collaboration include decarbonising cold storage through rooftop solar and energy efficiency; aggregated rooftop solar across Uttar Pradesh State Industrial Development Authority industrial parks beginning with Gautam Buddh Nagar and Ghaziabad; agri-voltaic solutions in polyhouses; solarisation of agricultural feeders; and the transition from diesel irrigation pumps to solar-powered systems. The partnership will also explore clean technology manufacturing in Bundelkhand, including battery value chains, alongside open-access renewable energy and storage solutions for industrial clusters and data centre infrastructure. In addition, AVPN and the Government will support electric mobility ecosystems, including e-buses and charging infrastructure, and strengthen skilling initiatives in renewable energy, artificial intelligence and machine learning (AI/ML), and other emerging sectors.
Aravindan Srinivasan, Executive Director, Climate Action at AVPN, said: “This partnership is about translating Uttar Pradesh’s growth ambition into clean growth that is both investable and people-centred. We have identified a pipeline of opportunities that can strengthen the quality and sustainability of development in the state. Working with Invest UP and relevant line departments, AVPN will support the state in readying projects for investment and catalytic capital, and accelerating implementation ensuring commitments convert into tangible investments and a people-centred transition on the ground.”
Alongside AVPN’s MoU with the Government of Uttar Pradesh, two AVPN member organisations, The Private Infrastructure Development Group (PIDG) and Kaizen Capital Management (Kaizenvest), also signed separate MoUs with the state during the Chief Minister’s Singapore visit, signalling early investor alignment with Uttar Pradesh’s clean growth and human capital priorities.
PIDG will explore potential collaboration in climate-positive sectors including clean energy (solar and biomass), sustainable transport, agri-PV technology, and green hydrogen infrastructure with the aim to mobilise concessional and private capital in equity, debt, and guarantees supported by technical assistance and project development expertise. Over the past three years, PIDG has mobilised over USD 500 million (more than INR 4000 crores equivalent) in private investment in India, providing a strong foundation for climate-positive infrastructure opportunities through this collaboration. Kaizenvest will explore establishing a skilling university in Uttar Pradesh, with a proposed investment of USD 36 to 48 million (INR 300–400 crore) and an expected creation of 350–500 direct jobs from 2028–2029.
Together, these partnerships aim to align project pipeline development, risk-sharing instruments, and capital mobilisation for opportunities to move faster towards bankable investments and implementation.
About AVPN
AVPN is the largest network of social investors in Asia, comprising over 700 diverse members across 43 markets. Our mission is to increase the flow and effectiveness of financial, human, and intellectual capital in Asia by enabling members to channel resources towards impact. As an ecosystem builder, AVPN enables its members to connect, learn, act, and lead social impact efforts across key pillars while improving the effectiveness of deployed capital, bringing local field needs, regional expertise, and policy insights to the forefront. For more information about AVPN and our work, please visit our website and read our latest Annual Review 2024 -25.
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