New Delhi: UK’s development finance institution (DFI) British International Investment on Thursday announced a total commitment of $89 million to scale clean energy capacity in India.
The investment comprises an $47 million follow-on commitment to Fourth Partner Energy, and an $42 million project finance debt investment to Thar Surya 1 Private Limited – an Indian subsidiary of Enel S.p.A, Italy (Enel). Both investments will target expansion of renewable power in India and help accelerate the country’s energy transition over the long term.
BII’s $47 million follow-on commitment to Fourth Partner Energy, a leading renewable energy company for commercial and industrial businesses, will fund around 294 MW of greenfield renewable generation capacity across India, Sri-Lanka, Bangladesh, Indonesia and Vietnam.
The…