Norway’s Climate Investment Fund, managed by Norfund, and KLP have invested approximately NOK 317 million in equity capital and up to NOK 530 million in loan guarantees for a 168 MW wind power project. The project is developed by Enel Green Power in Gujarat through their joint venture KNI India. The wind project is operational and is estimated to create 700 GWh of clean energy per year and reduce carbon dioxide emissions by nearly 573,000 tonnes per year.
The wind project is the Climate Investment Fund and KLP’s third collaboration, strengthening their partnership. The Climate Investment Fund owns 51% of the joint venture KNI India, while KLP owns 49 per cent.
In January 2023, The new Norwegian Climate Investment Fund in collaboration with KLP announced to make its first investment of Rs 900 million in a ReNew Power transmission project in India. Norfund and KLP will invest approximately Rs 900 million in ReNew Power for a 49 percent ownership stake in ReNew’s transmission project in the Koppal district of Karnataka, with plans for additional joint investments.
