Overview
- A $300 million platform announced Tuesday by British International Investment and Copenhagen Infrastructure Partners will back utility-scale solar, wind, hybrid projects and battery storage across India.
- The partners have each committed $150 million, with targets of more than 4 million megawatt-hours of clean power a year and roughly 4 million tonnes of CO2 avoided.
- North Star is the first deal under British Climate Partners, a £1.1 billion BII initiative intended to mobilise institutional money for climate projects in fast-growing Asian markets.
- BII and CIP say the vehicle addresses financing and execution gaps that stall Indian projects from planning to operation, and they expect it to attract further private investors over time.
- India seeks 500 GW of renewables by 2030 and net-zero by 2070, and reports put the annual funding gap near $160 billion, while BII projects the wider program could mobilise about £3.5 billion of private capital and reach £4.6 billion in total commitments.