Whalesbook
India is aggressively pursuing ambitious clean energy targets, aiming for 500 GW of installed renewable capacity by 2030 and net-zero emissions by 2070. However, the nation faces a major challenge: an estimated annual climate financing gap of $160 billion through the end of the decade. Against this backdrop, British International Investment (BII) and Copenhagen Infrastructure Partners (CIP) have launched 'North Star,' a $300 million renewable energy platform to inject vital capital into the sector.
Bridging India's Clean Energy Funding Gap
The North Star platform aims to bridge financing and execution gaps in India's renewable energy market. Developers often struggle to scale projects from development through to operation. BII and CIP will each commit up to $150 million to North Star, focusing investments on solar, wind, hybrid projects, and battery storage.
Goals and Expected Impact
This partnership is expected to bring significant environmental and energy benefits. The platform is projected to generate over 4 million MWh of clean energy annually. It is also expected to help avoid nearly 4 million tonnes of carbon emissions each year. Rohit Anand, Managing Director and Head of Asia Infrastructure at BII, said the launch reflects India's strong renewable growth potential and the key role of catalytic capital in accelerating the clean energy transition. Peter Jannik Sjøntoft, Partner at CIP’s Growth Markets Funds, confirmed India is a key global renewable energy market and stated the partnership will enhance infrastructure delivery. North Star is also the first investment under BII’s broader £1.1 billion climate finance initiative, British Climate Partners, which aims to mobilize institutional capital for climate projects across Asia.