Norway’s Climate Investment Fund invests Rs 900 million in Karnataka’s transmission project

The new Norwegian Climate Investment Fund, managed by Norfund, together with KLP, has made its first investment of Rs 900 million in an Indian transmission project in Karanataka being developed by ReNew Power. Norfund and KLP will invest around Rs 900 million for a 49 per cent ownership stake in the project, with plans for further joint investments. The Norwegian investment in Karnataka will connect 2.5 GW of renewable capacity to the national grid.