IPC plans Rs 83,480 crore investment in Karnataka: MB Patil

Bengaluru: Luxembourg-based Innovation Platform Capital (IPC) plans to invest Rs 83,480 crore in Karnataka in three phases, with a focus on digital infrastructure, renewable energy and green hydrogen, industries minister MB Patil said on Monday.

The minister made the announcement after meeting a high-level delegation from IPC, led by managing partner Gursharan Singh Kundan.

IPC has proposed setting up the Bengaluru-Tumakuru Integrated Green Hydrogen and hyperscale data centre projects, with a combined capacity of 2,500 MW of IT load and 1,000 MW, respectively, Patil said in a statement.


The company plans to invest Rs 17,114 crore in the first phase, which will include two 200 MW data centres and a 500 MW green hydrogen plant and energy complex.

For the first phase, IPC has sought 1,000 acres of land. Around 400 acres each will be used for the data centre and green hydrogen facilities, while the remaining 200 acres will be reserved for safety and environmental protection, the minister said.

The projects will require around 13 million litres of water per day, of which the company plans to source 85% from treated water, according to the delegation.

The delegation included IPC CEO Pradeep Karatagi, managing partners Gursharan Singh Kundan and James Coulter, managing director Edsa Cabrera and India head of corporate affairs DK Arjun.