Ayana Renewable gets additional USD 390 million funding

Ayana Renewables Power (Ayana) has secured additional funding worth USD 390 million from the CDC Group, the National Investment and Infrastructure Fund (NIIF) and the Green Growth Equity Fund (GGEF).

CDC Group, NIIF and GGEF announced additional equity funding of USD 70 million, USD 284 million and USD 36 million respectively in Ayana. The proposed transaction envisages NIIF to become the majority shareholder in Ayana. The commitment is subject to final approval processes. To date, Ayana has received equity funding of USD 721 million, sufficient to scale up its renewable energy portfolio to over 4 GW over the next two years.

GET ACCESS TO OUR ARTICLES

Enter your email address

Share your work e-mail and access a free 3 month digital subscription to Power Line Magazine