Under the partnership, British International Investment and Copenhagen Infrastructure Partners, through its Growth Markets Fund II, will each commit up to 150 million dollars to the platform. The investment is designed to bridge the substantial funding gap required to build and scale renewable energy projects in India, where demand for climate finance continues to rise sharply.
The investment marks the first deployment under British Climate Partners, a 1.1 billion pound climate finance initiative unveiled by British International Investment last month as part of its new five-year strategy. The programme has been established to mobilise large-scale institutional capital into climate solutions across rapidly growing and coal-dependent economies in Asia.
Through British Climate Partners, British International Investment intends to channel funding into countries including India, the Philippines, Indonesia, Vietnam and several other South-East Asian nations, where accelerating the transition to cleaner energy sources remains a critical priority.
The North Star platform is expected to generate more than 4 million megawatt-hours of clean electricity every year. In addition to expanding renewable power capacity, the project is projected to prevent nearly 4 million tonnes of carbon emissions annually, making it a major contribution to global climate mitigation efforts.
India has set an ambitious target of achieving 500 gigawatts of installed renewable energy capacity by 2030 and reaching net-zero emissions by 2070. However, the country continues to face a significant climate financing shortfall, estimated at approximately 160 billion dollars annually through 2030.
The launch of North Star represents a major step in addressing this financing gap while strengthening international collaboration in sustainable infrastructure. By combining British and Danish capital with long-term investment expertise, the platform is poised to play a pivotal role in advancing India’s renewable energy goals and reinforcing the country’s position at the forefront of the global clean energy transition.
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