UK's CDC forms new solar and wind developer in South Asia

The UK’s development finance institution CDC has created a new company with the goal of developing hundreds of megawatts of solar and wind power generating capacity in India and neighbouring countries.

CDC announced the move today, saying that Shivanand Nimbargi, former CEO of Indian renewables firm Green Infra, has been appointed as managing director and CEO of the new company called Ayana Renewable Power. P J Nayak, in turn, will serve as chairman of Ayana.

The new company will be active in South Asia, specifically in underserved Indian states and other countries such as Bangladesh, Nepal, Myanmar and Sri Lanka. It will be 100% funded by CDC and run by an independent board and management team.

CDC did not give details about any upcoming projects that are being considered by Ayana.

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