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British International Investment (BII) and Copenhagen Infrastructure Partners (CIP) have launched a renewable energy platform called North Star with a total planned investment of USD 300 million to support India’s clean energy transition.
Under the partnership, both BII and CIP’s Growth Markets Fund II will commit up to USD 150 million each.
The platform will focus on investing in solar, wind, hybrid renewable energy and energy storage projects across India. These projects are expected to generate more than 4 million megawatt-hours of clean energy annually and help reduce nearly 4 million tonnes of carbon emissions every year.
The initiative marks the first investment under British Climate Partners, BII’s £1.1 billion climate finance programme introduced as part of its new strategy. The programme aims to channel institutional capital into climate infrastructure projects across emerging Asian markets, including India, Indonesia, Vietnam and the Philippines.
India has been chosen as the first market due to its ambitious renewable energy targets and significant funding needs. The country aims to reach 500 GW of renewable energy capacity by 2030 and achieve net-zero emissions by 2070. However, it requires an estimated USD 160 billion annually in climate financing to meet these goals.
According to the investors, North Star is designed to address funding and development challenges faced by renewable energy developers by supporting projects across their lifecycle and attracting additional private investment.
This article was originally
published by the 
