This investment was made when British International Investment was named CDC Group.
We have now exited this investment. This is what we achieved.
Achieved impact
In 2013, we invested $16 million in Green Infra Limited, since renamed Sembcorp Green Infra Limited, an independent wind and solar power producer. We invested in the company to increase the share of renewable electricity on the grid in India. We sold our stake in 2015.
During our investment the company increased its generation capacity to over 650 megawatts (MW), almost doubling its renewable power production, and helped create 600 direct jobs, with hundreds more supported by the supply chain. The electricity generated by Green Infra reaches around one million people across four Indian states. This increased access to renewable electricity helps businesses grow as well as avoiding millions of tonnes of carbon dioxide emissions.
We also supported the company to strengthen its relationships with the communities living near to Green Infra’s facilities. This meant introducing a comprehensive corporate responsibility programme tailored to the needs of people at each of the six sites. The company renovated 25 schools, reaching more than 3,500 students every day. It also developed eight health care centres and provided sustainable drinking water to communities in Maharashtra, a state in central India, which face long-term drought problems.
Expected impact
In 2013, we invested $16 million in Green Infra, an independent wind and solar power producer, before selling our stake in the company in 2015.
When we exited, we achieved a financial return of 14 per cent, which has been used for new investments.
Reporting and Complaints Mechanism
The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to reportsandcomplaints@bii.co.uk or by mail. See more details on our Reporting and Complaints Mechanism here.
For any other general enquiries contact us at enquiries@bii.co.uk
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Key facts
- Last updated
:
When the last quarterly update of the website database occurred.
- December 2024
- Project number
:
An identifier number shared by investments in the same project.
- D195
- Status
:
The current status of the investment (green flag for active and red flag for exited).
- Exited
- Region
:
The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.
- South Asia
- Country
:
The countries where the investment delivers impact. Where impact is delivered in multiple countries, this is indicated.
- India
- Sector
:
We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.
- Infrastructure
- Sub sector:
- Independent Power and Renewable Electricity Producers
- Investment type :
- Equity
- Start date :
- October 2013
- End date :
- February 2015
- Amount :
- $24.93m
- Currency of investment :
- INR
- Domicile
:
The company or investment fund’s place of incorporation.
- India
We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.
For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.
For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.
For direct equity investments, this is the date at which British International Investment exited the investment.
For debt investments, this is the date at which the final debt repayment was made.
For funds, this is the date at which the fund was terminated.
For underlying fund investments, this is the date at which the fund manager exited the investment.
The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.
For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.
The currency in which the investment was made.
- Last updated
