British International Investment (BII), the UK’s development finance institution and impact investor, along with FMO, the Dutch entrepreneurial development bank, have revealed a shared commitment of $50 million in loans to BECIS for assisting renewable sector in India and Southeast Asia’s commercial and industrial sector.
The collaborative funding will support BECIS’ growth initiatives and bolster their innovative energy offerings throughout India, Vietnam, the Philippines, Indonesia, Thailand, and Malaysia. This addresses the increasing need for sustainable and cost-effective energy solutions in these regions. This initiative will aid India in reaching its target of attaining 40 GW of rooftop solar capacity by 2026, as part of a broader objective to install 500 GW of renewable energy capacity by 2030.