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Abraaj Capital partners with Indian firm for solar plant

Abraaj Capital partners with Indian firm for solar plant
Photo Credit: Arabianeye-Reuters

Dubai-Mubasher: Abraaj Capital has gone into a partnership with Aditya Birla Group to develop solar power plants in India, according to a bourse statement.

The partnership comes at a suitable time, given the growth of renewable energy sector in India and increasing demand on energy.

India has set a target to increase its solar capacity to 100 GW by 2022 from its current capacity of 4 GW.

Abraaj will invest through one of its affiliates, while the group will invest through Aditya Birla Nuvo Limited.