NIIF to hold majority stake in CDC's Ayana Renewable after fresh infusion

CDC will put in $70 million as addl equity, NIIF $284 million and GGEF $36 million. The commitment is subject to final approval processes

CDC Group, the UK’s development finance institution and impact investor, National Investment and Infrastructure Fund (NIIF), and EverSource Capital-managed Green Growth Equity Fund (GGEF) today announced additional equity funding in Ayana Renewable Power (Ayana), an Indian renewable energy platform. The proposed transaction envisages NIIF to become the majority shareholder in Ayana. 

CDC will put in $70 million, NIIF $284 million and GGEF $36 million. The commitment is subject to final approval processes.

According to Sujoy Bose, managing director and chief executive officer, NIIF, the fund’s continuing support to Ayana demonstrates its belief in the large growth potential of the Indian renewable energy