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Green Developmentalism? The Political Economy of Hydropower in India in the 21st Century

グリーンな発展主義？21世紀インドにおける水力発電の政治経済 (AI 翻訳)

Vasudha Chhotray, Harsh Vasani

Development and Change📚 査読済 / ジャーナル2026-05-12#エネルギー転換Origin: Global
DOI: 10.1111/dech.70065
原典: https://doi.org/10.1111/dech.70065

🤖 gxceed AI 要約

日本語

本稿は、2000年代初頭に「グリーンエネルギー」と再定義されたインドの水力発電の政治経済を批判的に分析する。グローバルな利害の一致があったにもかかわらず、民間資本の流入は限定的であり、州は環境規制緩和や信用供与拡大などのデリスキング手法を用いて水力発電を推進している。結論として、これは石炭の優位を維持しつつ、国家の長期的課題を追求する独自の「グリーンな発展主義」であると主張する。

English

This article critically examines the political economy of hydropower in India since its reframing as green energy in the early 2000s. Despite global stakeholder convergence, private capital flows were limited. The state persists using derisking techniques like diluting environmental regulation and expanding credit. The author concludes this represents a distinctive green developmentalism that leaves coal hegemony intact.

Unofficial AI-generated summary based on the public title and abstract. Not an official translation.

📝 gxceed 編集解説 — Why this matters

日本のGX文脈において

本論文は、日本のエネルギー転換政策、特に再エネ推進と規制緩和のバランスを考える上で示唆に富む。日本の水力発電は既に成熟しているが、グリーンなレトリックと実際の政策実施の乖離は共通の課題である。

In the global GX context

This paper offers a critical perspective on green energy framing and state-led derisking, relevant to global discussions on transition finance and the political economy of renewable energy. It highlights how non-market forces shape energy transitions, a caution for purely finance-driven climate strategies.

👥 読者別の含意

🔬研究者:Provides a political economy lens on renewable energy transitions, useful for scholars studying state-market dynamics in green energy.

🏢実務担当者:Empty string

🏛政策担当者:Offers insights on how environmental regulation and public finance interact in energy projects, relevant for designing derisking mechanisms.

📄 Abstract（原文）

ABSTRACT This article critically examines the political economy of hydropower in India since its global reconfiguration as ‘green energy’ in the early 2000s. While an opportune convergence of interests among key global, national and subnational stakeholders contributed to the greening of hydropower in India, this reframing did not produce the expected flows of private capital into the development of hydropower projects. Yet the state persists in its support of hydropower, citing its importance for grid stabilization and national security. To understand why the Indian state frames hydropower as green energy and continues to pursue it despite challenges in attracting private investment, the article posits that this greening experiment must be situated within a longer continuum of state policy on hydropower. It argues that the greening of hydropower in India is driven less by global finance and more by the country's domestic political economy. In particular, the Indian state has adopted political and financial derisking techniques that include diluting environmental regulation, easing access to credit and placing stalling projects under public control when private capital flees. The article concludes that the Indian case of greening hydropower represents a distinctive form of green developmentalism through which the state pursues its long‐term agendas, protects powerful interests and leaves the hegemony of coal intact.

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