Enabling clean growth
India’s population and economy are expanding quickly. Over the next three decades, the country is forecast to add another 273 million people to its population and become the world’s second largest economy1,2. To enable this development, electricity demand is expected to double3 – with renewables set to play an increasingly important role in the country’s energy mix.
As part of its mandate to promote clean growth in developing economies, UKCI acquired a 40 per cent stake in a 185MW portfolio of solar farms located in Rajasthan, Madhya Pradesh and Karnataka. Built to world-class standards in regions highly dependent on fossil-fuel based generation, the four solar farms will help avoid approximately 330ktpa of harmful CO2 emissions over their operational lives4.
In addition to contributing to India’s target of 500GW of installed renewables capacity by 2030, the solar farms will provide a reliable, safe and clean source of electricity for approximately 315,000 homes each year. The portfolio will also help drive improvements in local air quality and health outcomes for some of India’s poorest – reducing the amount of harmful particulates in the air by displacing conventional generation.