Apraava secures Rs 800-cr funding

New Delhi: Apraava Energy on Wednesday said it has secured Rs 800.9 crore ($92 million) from British International Investment (BII), the UK's development finance institution and impact investor, and Standard Chartered. This transaction demonstrates the partnership between two UK institutions, channelling commercial and development finance capital into a key sector for India's energy transition journey, Apraava Energy said in a statement. According to the statement, Apraava Energy signed financing agreements with BII for Rs400.5 crore ($46 million) and another agreement for Rs 400.4 crore (USD 46 million) with Standard Chartered.