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BP commits $70m to UK-India Green Growth Fund

The fossil fuel company will become a partner in the fund, which invests in clean energy projects.
Uma Gupta
By
Uma Gupta
The fund hopes to draw upon the oil company’s ‘global expertise in the low-carbon and zero-carbon energy value chain.’ | Image: Geralt, Pixabay

Oil and gas giant BP has announced it will invest $70 million in the UK-India Green Growth Equity Fund (GGEF) this year. The cash will support India’s renewables sector as the fund is focused on growth in low-carbon energy solutions.

The Green Growth Fund is financed by the Indian and U.K. governments through the National Investment and Infrastructure Fund and the Department for International Development, respectively, although the latter organization is due to be folded into the U.K. Foreign and Commonwealth Office from September.

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