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RE Developers are Worried of Transmission Woes

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India & UK Announced GGEF to Invest in RE & Clean Technology in India

16 May 2018 Lightsource BP & Everstone Group announced the creation of a 500 mn pound ($711 mn) fund to invest in RE & clean technology in India. The fund, named Green Growth Equity Fund (GGEF), was launched with an initial warchest of 240 mn pounds shared equally by the British & Indian govt.s, the two firms said in a statement. The fund aims to increase its invest. to 500 mn pounds which will be raised from institutional investors as well as a "sig. invest." from Lightsource & Everstone, Lightsource BP Chief Executive Officer Nick Boyle told Reuters. The invest’s will span across renewables such as solar & wind as well as low-carbon technologies such as electric vehicles charging stations, Boyle said. India is one of the fastest-growing markets for clean energy. India currently has around 60 GW of installed renewable capacity, but plans to add a further 115 GW by 2022 which could cost at least $125 bn. BP acquired a 43% stake in Lightsource last year.

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