AIIB Boosts Aditya Birla Capital with ₹1,301 Crore for Green Infra.

The Asian Infrastructure Investment Bank (AIIB) has injected a substantial ₹1,301.25 crore into Aditya Birla Capital Limited (ABCL) through a subscription to Non-Convertible Debentures. Both companies jointly announced the strategic investment on Monday, which is earmarked for bolstering India's burgeoning renewable energy and electric mobility sectors.

This three-year, privately placed investment is set to significantly fund projects across various renewable energy generation methods. This includes pivotal areas such as solar, wind, geothermal, pumped storage, hydrogen production, and energy storage systems. Furthermore, the financing will extend to the rapidly expanding electric mobility ecosystem, supporting electric vehicle development, EV battery production, and the crucial expansion of charging infrastructure.

A key component of this collaboration involves the AIIB assisting ABCL in strengthening its Environmental and Social Management System. This initiative aims to align ABCL's governance frameworks with the AIIB's own stringent standards, ensuring more responsible and sustainable practices in the funded sub-projects.