500 MW Indian Joint Venture in Renewables. Wait for other foreign investors at India's renewable energy sector

ADB will invest $40 million to take a 25% stake in the company, along with India's NTPC Ltd (50%) and Japan's Kyushu Electric Power Company (25%). The bank aims to invest $2 billion a year in renewable-energy and energy-efficiency projects in Asia and the Pacific. “The joint venture company will help India achieve its goal of reducing the country's dependence on fossil fuels, will cut greenhouse gas emissions and improve its energy security,”