British International Investment (BII), the developmental finance institution of the UK government, has ambitious plans to allocate over $250 million in 2024 for investments in India, a market it considers as distinct within emerging Asia.
As reported by ETEnergyworld.com, BII is strategically charting a comprehensive course to infuse $1 billion into climate-related initiatives in India between 2022 and 2026, with the aim of supporting the country’s trajectory toward a carbon-neutral economy. The organisation’s focal points encompass mobilisation, pioneering climate technologies, and platforms facilitating decarbonisation.
For the energy sector, BII has outlined three primary objectives. Firstly, it seeks projects that prominently exemplify a robust mobilisation theme. Secondly, the institution is venturing into nascent technologies that have yet to undergo rigorous testing and validation, deploying its catalytic capital for these ventures. Thirdly, BII is in the early stages of conceptualising strategies to establish enduring decarbonisation platforms, necessitating sustained and patient capital.
