British International Investment (BII), the UK’s development finance institution, on Tuesday announced that it has surpassed its target to invest $1 billion in climate financing in India during 2022–2026.
The firm has also invested Rs 430 million in Turno, an India-based EV battery infrastructure company using lifecycle intelligence and second-life batteries, which will be used to launch ElectricGo, a new e‑bus unit.
“India is central to BII’s climate investment strategy. Reaching $1.1 billion in climate investments reflects both the scale of India’s opportunity and BII’s long‑term commitment to supporting its transition.” said Shilpa Kumar, Managing Director and Head of India, BII.
The climate agenda is central to BII’s mandate, with more than 40% of its annual commitments across Asia and Africa now supporting climate-related projects.
BII managing director and head of Asia Srini Nagarajan had told DealStreetAsia earlier that growth in emerging Asia’s climate sector is set to come from segments involved in building out infrastructure for electric vehicles, including battery-swapping, energy storage and transmission, and smart metering.
And as these climate technologies and business models evolve, investors who are able to create and develop bankable, and scalable, projects in these areas should be able to generate distributions and attract further capital.
BII had committed £308 million ($410 million) to climate finance in Southeast Asia, and targeted to invest up to £500 million in the sector by 2026.
BII’s investments are expected to deliver over 1.8 GW of clean energy capacity and avoid more than 1.6 million tonnes of greenhouse gas emissions, supporting the region’s green transition.
BII’s total portfolio in Asia till December 2025 was around $3.3 billion, with average annual commitments ranging between $500 million and $750 million. BII has been active in India and parts of South Asia, including Bangladesh and Pakistan, since 2012, and expanded into Southeast Asia from 2023.
