The Indian unit of German lender KfW plans to double its investments to $1 billion

A top executive at the German state bank KfW said that the unit's investments in India will more than double to $1 billion within the next few year, with a particular focus on India's energy and Infrastructure projects.

DEG, the unit of the lender that focuses on private sector companies, invested so far about $400 million into debt and equity in India.

"India is a market that we consider to be very important because it offers a good investment climate, and has many strong entrepreneurs and developers who we are happy to support," stated Jochen von Froein, Director, Infrastructure & Energy, Global Equity at DEG.

Germany pledged to India 10 billion Euros by 2022 in order to assist India in achieving its climate goals.

India's total renewable energy capacity increased by 10 gigawatts between April and the end of August, bringing it to 153 GW.

The country is seeking investments to help it achieve its goal of adding at least 500 GW clean energy to the grid by 2030.

Frowein stated that DEG intends to invest in renewable energy, as well as in the financial sector and infrastructure projects.

"Right Now, we are actively evaluating commercial and industrial renewable energy investment." Frowein stated that green hydrogen and power transmission will be important sectors in the future.

Frowein, who declined to provide more information on the returns, said that DEG had made "successful" exits from its investments in India.

(source: Reuters)