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

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.