{"id":7863,"date":"2023-09-26T12:54:25","date_gmt":"2023-09-26T12:54:25","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=7863"},"modified":"2023-09-26T12:54:25","modified_gmt":"2023-09-26T12:54:25","slug":"british-international-investment-eyes-1-bln-investment-in-india-clean-energy-projects","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/7863\/","title":{"rendered":"British International Investment eyes $1 bln investment in India clean energy projects"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0The UK government’s development finance institution British International Investment (BII) plans to invest about $1 billion in Indian climate-related projects by 2026, a top official said, drawn to the country’s expanding renewable energy capacity.<\/p>\n

“We are evaluating exciting businesses in sectors such as bio-fuels, circular economy … as part of the vision for the 2030 roadmap agreed between India and the UK,” Nick O\u2019Donohoe, CEO of BII told Reuters on Tuesday.<\/p>\n

In India, BII invested over $300 million in climate finance last year in sectors such as renewable energy, electric mobility and sustainable agriculture.<\/p>\n

Its’ current portfolio in India is valued at $2.2 billion with investment in over 290 businesses. Last year, BII agreed to invest up to $250 million in automaker Mahindra and Mahindra Ltd’s new electric vehicle unit.<\/p>\n

“India has produced the best returns of any geography we have invested in,” said O\u2019Donohoe, citing buoyant stock markets and a stable political environment in the country.<\/p>\n

The company has about 8.2 billion pounds ($9.98 billion) worth of assets through its investments in around 1,500 businesses in emerging economies across 65 countries.<\/p>\n

On total portfolio investment, the company got 5% in annual return over a rolling 7-year period, he said, declining to give detail on returns on Indian investments.<\/p>\n

He, however, said the Indian economy was going through a “good phase” compared with BII’s investments in some African nations, where high debt, inflation and weakening currencies had impacted returns.<\/p>\n

BII wants to invest in new entrepreneurs and companies that are struggling to raise funds for their emission-cutting projects, he said.<\/p>\n

($1 = 0.8217 pounds)<\/p>\n

Updated on