Ayana Renewable Power Ranks First in RE Sector by ISS ESG in Asia
Ayana Renewable Power, India’s leading Independent Power Producer (IPP) backed by NIIF (National Investment and Infrastructure Fund), BII (British International Investment), and GGEF (Green Growth Equity Fund), has been ranked 1st in Asia and among the top 3 companies globally in the renewable energy sector by ISS ESG.
November 03, 2023. By News Bureau
Ayana Renewable Power, India’s leading Independent Power Producer (IPP) backed by NIIF (National Investment and Infrastructure Fund), BII (British International Investment), and GGEF (Green Growth Equity Fund), has been ranked 1st in Asia and among the top 3 companies globally in the renewable energy sector by ISS ESG, setting a new benchmark for ESG (Environmental, Social, Governance) standards in the sector.
India, as the world's third-largest energy consumer, is swiftly transitioning towards cleaner and more sustainable energy sources. With a commitment to achieving net-zero emissions by 2070, India aims to meet 50 percent of its power generation capacity from non-fossil fuel sources by 2030. This monumental effort requires an estimated investment of approximately USD15 trillion between 2022 and 2070, equivalent to an average annual spend of around USD 300 billion. Global investors are evaluating options in an increasingly conscious world where every metric ton of carbon emissions counts.
Ayana is one of the leading renewable energy producers in India, with a current portfolio of with close to 5 GW of solar, wind, and hybrid renewable power. The company has been at the forefront of introducing Round-the-Clock (RTC) solutions,
“Our unwavering commitment to ESG as our core focus, and the stringent ESG focus of our investors, NIIF, BII, GGEF from the very beginning, has enabled us to consistently maintain transparency in all ESG-related disclosures, follow global gold standards of governance, and meticulously adhere to proactive ESG measures going beyond compliance in all our operations. It is heartening to see this exceptional rating, which renews and further cements our resolve towards ESG commitments and clean energy transition” commented Shivanand Nimbargi, MD and CEO of Ayana Renewable Power. “This rating shows that Indian companies are not only creating climate impact but also setting global benchmarks on ESG” he further added.
Vinod Giri, Managing Partner – Direct Investments at NIIF said, “Driven by our deep-rooted dedication to leading the way in the adoption of best-in-class Environmental and Social (E&S) standards, we are immensely proud to partner with Ayana as they set industry benchmarks in ESG, not just in India but globally. This distinction underscores both Ayana’s dedication to excellence and NIIF’s unwavering focus on promoting robust ESG practices across our investments.”
Manav Bansal, MD and Head of India, British International Investment, commented: “Since establishing Ayana, we are proud of its progress as a leading renewable energy company that is delivering affordable and accessible clean energy across India. This rating is a significant achievement that reflects Ayana's dedication to integrating ESG principles into its core business practices.”
The ISS ESG rating provides relevant and forward-looking ESG performance assessments for global institutional investors. Drawing from a pool of about 700 standards and industry specific indicators, ISS ESG applies approximately100 environmental, social, and governance arelated indicators for each of its ratings. Ayana wasthe only Indian company to be rated A ( ), apart from the other two European renewable energy firms.
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Dr. Mridula D Bharadwaj
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