British International Investment (BII), the development finance institution of the UK government, has invested $1.1bn in climate initiatives in India, surpassing its original $1bn target set for the 2022–2026 period.
The organisation confirmed the milestone at the start of Mumbai Climate Week.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
BII’s latest investment includes Rs430m ($4.74m) in Turno, an Indian company focused on electric vehicle battery infrastructure.
This funding will support Turno’s new ElectricGo e-bus business unit and enable financing for 34 intercity electric buses across the country. The move follows BII’s initial investment in the company earlier in 2024.
BII India head and managing director Shilpa Kumar said: “India is central to BII’s climate investment strategy. Reaching $1.1bn in climate investments reflects both the scale of India’s opportunity and BII’s long‑term commitment to supporting its transition.
“Our partnerships, from clean mobility to smart metering and agri‑technology, show how climate investment can drive economic resilience, innovation and inclusive growth.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataIndia aims to achieve net-zero carbon emissions by 2070.
BII’s climate finance portfolio supports this target by investing in areas such as renewable energy, sustainable agriculture, electric mobility and climate-resilient infrastructure.
Notable recent projects include GreenCell Mobility’s planned deployment of 570 electric buses in Delhi and EnerGrid’s commissioning of a standalone utility-scale battery energy storage system with a capacity of 360MWh following a $110m commitment from BII.
Additional investments by BII include backing for agri-tech firm Fasal, which has introduced new precision automation tools for farmers in India and South-East Asia, and support for Grow Indigo’s regenerative agriculture project.
More than two-fifths of BII’s annual commitments across Asia and Africa now focus on climate-related projects.
In 2023, the organisation reported that its renewable energy investments contributed to avoiding 1.5 million tonnes of carbon dioxide emissions.
