AIIB provides $100 million to L&T Finance arm for wind and solar infrastructure projects |
AIIB provides $100 million to L&T Finance arm for wind and solar infrastructure projects
The Asian Infrastructure Investment Bank (AIIB) will give a $100-million loan to L&T(Larsen & Toubro Infrastructure Finance Company for wind and solar infrastructure projects in India.
This is the first time AIIB is extending a loan to a non-banking finance company.
L&T Infrastructure Finance’s collaboration with AIIB is also expected to help the company tap international market for finance.
India has set a target to install 175 Gigawatt (GW) of renewable energy capacity by 2022, of which a total of 80.04 GW of renewable energy capacity has been installed in the country till May 2019.
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