NIIF leads $390 million deal for CDC’s renewable energy platform

NIIF is leading a $390 million (Rs 28.7 billion) funding round in Ayana Renewable Power. The proposed transaction will make NIIF, which will invest $284 million, a majority shareholder in Ayana. The CDC Group, the UK’s development finance institution and impact investor, and the EverSource Capital-managed Green Growth Equity Fund will also invest $70 million and $36 million in Ayana respectively. This new investment will help Ayana scale up its green energy capacity and support India’s ambition to build 450 GW of renewable energy by 2030.

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