Enfinity bags $135m to boost India's renewable energy

This will fund the construction of 1.2 GW solar and wind projects in five states.

US-based renewable energy firm Enfinity Global secured $135m in financing from the Canada Pension Plan Investment Board through subsidiaries of CPPIB Credit Investments, to be used for the development of 1.2 gigawatts of solar and wind projects in India.

In a statement, Enfinity Global said the projects, which are in advanced stages of development, will be installed in five states which include Maharashtra, Delhi, Karnataka, Rajasthan, and Uttar Pradesh.

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The projects, expected to be commissioned between 2025 and 2026, could generate 2.4 gigawatt-hours of clean electricity annually once interconnected which could meet the demand of over two million Indian households.

Enfinity added that the project could avoid 2.6 million tonnes of carbon dioxide emissions.

The company owns and operates 240 megawatts of solar power in India, with over 1.5 gigawatts under development.