The Asian Infrastructure Investment Bank’s (AIIB) latest project will increase the supply of renewable energy in India by mobilizing private capital. The project provides a $100 million loan to L&T Infrastructure Finance Company Limited (LTIF), a subsidiary of L&T Finance Holdings Ltd and a leading non-bank financier of renewable energy in India. The financing marks AIIB’s first loan to a non-banking finance company (NBFC).
The loan proceeds will be used to on-lend to wind and solar power infrastructure projects throughout India. The loan mobilizes private capital from sponsors, other financiers and LTIF’s own sources.
India is committed to reducing its carbon intensity by 30 to 35 percent of 2005 levels by 2030 under the Paris Agreement. The country will need to increase the share of non-fossil fuels in its energy mix if it is to achieve this target. Investment in renewable energy is an efficient way for India to reduce its carbon intensity while meeting its growing energy needs. NBFCs play a crucial role in broadening access to financial services, enhancing competition and diversity in the financial sector, and has emerged as key financiers of renewable energy.
“AIIB’s financing will help secure the funding supply for renewable energy project development in India,” said AIIB Vice President and Chief Investment Officer D.J. Pandian. “The project supports AIIB’s commitment to sustainable energy for Asia to reduce the carbon intensity of energy supply.”
LTIF’s collaboration with AIIB will also help the company develop its environmental and social capabilities which will in the future enable it to tap the international market for green finance.
Source - AIIB.
I have read all the comments and suggestions posted by the visitors for this article are very fine,We will wait for your next article so only.Thanks! Searching PPSR
ReplyDeleteIEEE Final Year projects Project Centers in India are consistently sought after. Final Year Students Projects take a shot at them to improve their aptitudes, while specialists like the enjoyment in interfering with innovation. For experts, it's an alternate ball game through and through. Smaller than expected IEEE Final Year project centers ground for all fragments of CSE & IT engineers hoping to assemble. IEEE Project Domains It gives you tips and rules that is progressively critical to consider while choosing any final year project point.
ReplyDeleteJavaScript Online Training in India
JavaScript Training in India
The Angular Training covers a wide range of topics including Components, Angular Directives, Angular Services, Pipes, security fundamentals, Routing, and Angular programmability. The new Angular TRaining will lay the foundation you need to specialise in Single Page Application developer. Angular Training