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British International Investment and Copenhagen Infrastructure Partners have launched North Star, a $300 million clean energy platform aimed at accelerating renewable power projects across India.
The deets: the two firms will invest up to $150 million each into the platform, which will back solar, wind, hybrid renewable energy, and battery storage projects. North Star is expected to generate more than 4 million MWh of clean power annually while helping avoid nearly 4 million tonnes of carbon emissions every year.
The platform also marks the first investment under British Climate Partners, BII’s £1.1 billion climate finance initiative focused on scaling climate projects across fast-growing Asian economies.
Why India: investors are betting big on India as it already has the world’s third-largest installed renewable energy capacity after China and the US, while also being the fastest-growing emerging market globally.
The country’s target of achieving 500 GW of renewable energy capacity by 2030 has created strong policy visibility and long-term investment confidence. Investors also see India as a model that could later be replicated across other Asian markets.
Larger goal: to achieve its long-term climate ambitions, India needs estimated annual climate financing gap of $160 billion through the rest of the decade. Projects like North Star are expected to help bridge that gap by bringing large-scale global investment into India’s renewable energy sector.
