CDC, the U.K. government’s development-finance institution, will deploy the financing through Ayana Renewable Power, which it formed to build wind and solar installations in India’s most polluted urban areas.
Dangerous levels of air pollution plague several Indian cities; officials have described Delhi as a “gas chamber.”
To clean the air and extend electricity to off-grid areas, India has a target to create 175 gigawatts of (non-hydro) renewable-power capacity by 2022 from 60 gigawatts today.
Ayana will also invest in projects in Bangladesh, Nepal, Myanmar and Sri Lanka.
