Investments worth $100 million in India’s renewable projects a year, expects AIIB

BEIJING: Looking at the potential in India for renewable energy and relating it as “vibrant private sector market”, Pang Yee Ean, director general of the Asian Infrastructure Investment Bank (AIIB) expects an annual private investment worth $100 million a year in solar and wind projects in India from December. Pang said that AIIB should consistently do wind and solar projects up to $100 million each year and every year there should be $100 million in the private sector for renewable energy projects.

Pang explaining on the investment projections by the bank said the bank has always based investment on quality of projects.

Other projects in which AIIB has already invested in India include $500 million in Mumbai Urban Transport Project 3, $455 million in Andhra Pradesh Rural Roads Project and $450 million in AP Urban Water Supply Project.