The Clean Energy Race in South Asia: India, China, and the Boundaries of Delivery
As India and China compete to power South Asia’s energy transition, the decisive factor is not who has more capital. It is who can deliver. This report argues that the two countries’ delivery models, not their resources, explain the diverging outcomes across Bhutan, Nepal, and Bangladesh. India’s approach is relationship-intensive and conditional, built on sovereign Lines of Credit negotiated case by case. China’s is capital-intensive and vertically integrated, with state-owned enterprises controlling financing, engineering, and equipment supply from start to finish.