Ayana Renewable Power

South Asia Infrastructure

Ayana Renewable Power is an independent solar and wind generation company that will develop green energy infrastructure in India and neighbouring countries in South Asia.

Our investment

Launched in January 2018, CDC has initially committed to invest $100m into the company.

Ayana is 100 per cent funded by CDC, and is run by an independent board and management team.

Expected impact

Our investment will support the development of utility-scale renewable power with a focus on the underserved Northern and Eastern states which suffer from a greater power deficits and higher costs of power.
Building this green energy capacity is vital to India's long-term economic development, helping to support the creation of direct and indirect jobs, decarbonising the energy mix away from coal and attracting other investors to the region.

Environmental and social aspects

CDC's investment will contribute to an increased share of renewable energy in India's fuel mix, taking it from 2 per cent to 8 per cent by 2035. CDC has also worked with Ayana to develop its own in-house environmental and social (E&S) function so that it can develop projects in line with Good International Industry Practice. A key part of Ayana's remit is to work with and support the local communities living and working in its development locations. CDC helped Ayana develop a community development strategy to achieve this.

Key facts


Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

South Asia

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

Direct Equity
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

April 2017

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.


This is the investee company’s place of incorporation; or a fund’s jurisdiction.

United Kingdom