With this, the global oil and gas giant will become a partner in UK-India Green Growth Equity Fund, and have rights to co-invest in clean energy projects like solar power, electric mobility and sustainable infrastructure management.
From pv magazine India
Global energy giant BP has revealed that it will invest $70 million in the U.K.-India Green Growth Equity Fund (GGEF) later this year. The investment will support India’s renewable sector, as the fund is focused on identifying, investing and supporting growth in low-carbon energy solutions across the Indian subcontinent.
The GGEF is already funded by the United Kingdom and the Indian government through the UK National Investment and Infrastructure Fund and the Indian Department for International Development.
The latest private investment will make BP a limited partner in the GGEF, with representation on its advisory committee and rights to co-invest in projects alongside the GGEF.
For the full story, please visit our pv magazine India site.
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