EverSource, NIIF, CDC to invest USD 330 mn in Ayana Renewable

EverSource Capital, National Investment and Infrastructure Fund of India and CDC Group on Thursday announced a partnership to invest USD 330 million in Ayana Renewable Power (Ayana).

Ayana is a renewable energy platform founded by CDC.

This will be a cumulative investment of all three partners, a statement said.

"This investment demonstrates our commitment to invest a further USD 1.7 billion in India and neighbouring countries over next three years. Within infrastructure, we see further opportunities to provide investment to businesses operating within power generation, power transmission and distribution, transport, the gas midstream and the water sector," CDC's Head of Asia, Srini Nagarajan said.

Ayana was launched to develop utility scale solar and wind generation projects in India. It is constructing 500MW of solar generation capacity with a strong future pipeline of renewable energy opportunities, said the statement.

"The Indian renewable energy sector has seen strong traction ...