This investment was made when British International Investment was named CDC Group.
Our investment
CDC launched the company in January 2018. It is run by an independent board and management team. Our investment is to support the financing of renewable power generation capacity to: displace thermal generation and avoid greenhouse gas emissions; increase the supply of reliable and clean electricity to industry to support power enabling jobs; and increase the supply of reliable and clean electricity to grid-connected households to meet the needs of consumers.
| Impact |
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| How? |
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| Stakeholder | Geography | Characteristics |
|---|---|---|
| Planet |
Global |
N/A |
| Employees |
Andhra Pradesh and Rajasthan, India |
Jobs will be mostly supported in agriculture (45 per cent), construction (12 per cent), manufacturing (12 per cent), and wholesale and retail trade (11 per cent) |
| Consumers |
Andhra Pradesh and Rajasthan, India |
Urban/peri-urban households |
| Scale | Depth/Duration |
|---|---|
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| Grid Score | Contribution |
|---|---|
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To help us direct our investments, we use a tool called the Development Impact Grid. The Grid scores every investment we plan out of a score of four, based on two factors: the difficulty of investing in the country and whether investment in that sector will lead to jobs. |
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| Risk |
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While projects are still under construction, we have a high level of confidence these will be delivered. |
Expected impact
India's demand for green energy is expected to grow seven-fold by 2035, but renewable energy platforms have typically been concentrated on the country’s more developed Western and Southern states.
Our investment will support the development of utility-scale renewable power in the under-served Northern and Eastern states which suffer from a greater power deficit and are more dependent on coal power.
Building this green energy capacity is vital to India’s long-term economic development, helping to support the creation of direct and indirect jobs, as well as attracting other investors to the region.
The aim is also to develop renewable energy projects and provide a secure energy supply to other countries in South Asia, including Bangladesh, Nepal, Myanmar and Sri Lanka.
Environmental and social aspects
We are working with Ayana on activities beyond environmental and social (E&S) action plan compliance, including continued engagement on emerging E&S risks through the internal ESG sub-committee which reports to its board.
Key facts
- Status:
- Active
- Region
:
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
- Countries:
- India
- Sector
:
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Infrastructure
- Website:
- www.ayanapower.com
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Direct Equity
- Start date
:
For direct investments, this is the date British International Investment committed capital to the business or project.
For funds, this is the date that British International Investment committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- April 2017
- Amount
:
For direct investments, this is the total amount that British International Investment has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that British International Investment has committed to the fund.
- $100m
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- India
- Local tax jurisdictions
:
These are the countries where the investee company files their taxes.
- India (0%)
