Sustainable Change, Net Zero and ESG: How and Why Indian Companies are Taking these Phrases Out of Boardrooms and Incorporating them into Everyday Core Operations?
Summary
The consortiums investment will infuse capital to fund FPELs business expansion plans which include a target portfolio of 3.5 GW of renewable energy assets by 2026.FPEL has an installed base of 1.5 GW of green assets and is set to commission the first phase of its maiden 575 MW wind solar hybrid project under the ISTS (Inter State Transmission System) route, in Karnataka, later this quarter.Announcing the closure of fund-raising,said, on boarding leading DFIs as equity partners is testament to our industry-best technical capabilities, high caliber team and strong ESG compliance. Together with our partners, we aim to support Indias green transition and make a meaningful impact on the countrys sustainable energy journey, addedIndias renewables sector is expected to attract an annual investment of $25 Bn through 2030, aided by the governments clarity and stability in RE policy. FPEL combines rapid growth in building a solar and wind park portfolio with the high demands of first-class clients and can thus be a driver of CO2 reduction and energy transition in India she added.FPEL is currently developing additional capacities of 1.2 GW of open access projects across Maharashtra, Uttar Pradesh, Tamil Nadu, and Gujarat; while continuing to focus on ISTS, on-site solar and battery storage as key business verticals. The firm has an international presence in 5 countries including Indonesia, Vietnam, Sri Lanka and Bangladesh.IFC a member of the World Bank Group is the largest global development institution focused on the private sector in emerging markets. It focuses on sustainable private sector infrastructure projects that reduce carbon emissions, improve energy efficiency, and provide affordable health care, education, and communication services to ADBs developing member countries.