Berkeley Energy Wind Mauritius Ltd.
BIO has granted a € 1 M loan to Berkeley Energy Wind Mauritius, to support the completion of the Satara wind farm in India.
Amount
€ 1,000,000.00
Type of investment
Debt
Development impacts
- Local economic growth
- Fight against climate change
- Promotion of ESG best practices
Beneficiary locations
Investment field
Infrastructure
Activity
Energy - Wind
Organisation
Berkeley Energy Wind Mauritius Ltd.
Website
https://www.berkeley-energy.com/Domicile
Berkeley Energy Wind Mauritius (BEWML) is a holding that aims at investing in wind projects or/and wind developers in India. It was created in 2010 by Berkeley Energy, manager of the Renewable Energy Asia Fund (REAF) in which BIO committed €6 million in December 2009. So far (November 2020) the holding has developed and invested in two wind farms in India with a total installed capacity of 150.4 MW: Panama Wind Satara - 70.4 MW - and Panama Wind Mirkala – 80 MW - both situated in Maharashtra state and operational since 2015. The loan was to cover for additional project costs for the Satara wind farm project which suffered from delays in construction.
Development impacts
-
Local economic growth
India suffers from an important energy shortage, which is a bottleneck for growth. Large cities and rural areas have to face load shedding and power cuts throughout the day. By adding new capacity to the grid, the project supports the activity of small and medium firms and answer to the people's growing needs.
-
Fight against climate change
India has very large coal reserve and coal power plants represent 50% of the installed capacity. Developing the renewable energy capacity helps to have a more balanced energy mix and to support the increasing energy access while limiting the corresponding CO2 emissions.
-
Promotion of ESG best practices
A good environmental and social management system is in place.
View more of our investments in this region
Financial Institutions
TerraPay Payment Services
10,000,000.00
Cameroon, Côte d'Ivoire, Kenya, Senegal, Tanzania, Uganda, Bangladesh, India, Philippines, Vietnam
25/03/2024
Debt
