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ReNew secures Rs 8.7 billion from BII for solar cell manufacturing

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ReNew Energy Global has secured an investment of Rs 8.7 billion from British International Investment (BII) in its subsidiary, ReNew Photovoltaics.  This is BII’s first investment in India’s solar manufacturing sector and involves the acquisition of a minority stake in the subsidiary. The funding will be used to build a new 4 GW TOPCon solar cell facility in Dholera, Gujarat. Once complete, ReNew’s total manufacturing capacity will rise to 6.4 GW of solar modules and…

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BII commits Rs 2.8 billion to boost India’s EV sector

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British International Investment (BII) will invest USD 33.5 million (approximately Rs 2.8 billion) in three companies within India’s electric vehicle (EV) ecosystem.  The investment includes USD 15 million in debt financing for Mumbai-based fleet operator Everest Fleet and USD 15 million in equity funding for EV manufacturer TI Clean Mobility, a subsidiary of Tube Investments India.  Additionally, USD 3.5 million will go to Delhi-based EV component maker Vecmocon to enhance R&D and expand its presence…