North Star Renewable Energy, a joint venture between British International Investment (BII) and Copenhagen Infrastructure Partners (CIP) through its Growth Markets Fund II (GMF II), announced the appointment of Shivanand Nimbargi as Managing Director and Chief Executive Officer. He will lead North Star’s efforts to develop and scale renewable energy projects across India, helping to mobilise private capital and accelerate the country’s energy transition.
Nimbargi has more than three decades of experience across the energy, transport and infrastructure sectors. Most recently, he was Managing Director and CEO of Ayana Renewable Power, a renewable energy company in India and a platform originally established by BII in 2018. Under his leadership, Ayana grew its renewable energy business and attracted major institutional investors, showing the potential of BII’s platform-building approach in India’s clean energy sector.
His experience in building and running renewable energy businesses, along with his long association with BII, makes him well suited to lead North Star as it sets up and grows its renewable energy platform in India.
Shivanand Nimbargi – Managing Director and Chief Executive Officer – North Star Renewable Energy, said, “I am pleased to join North Star at an important time for India’s energy transition. Having had the opportunity to work with BII-backed businesses over the years, I have seen the value of long-term capital and strong partnerships in building sustainable energy platforms. I look forward to working with BII and CIP to develop North Star and contribute to India’s growing renewable energy ambitions.”
Peter Jannik Sjøntoft – Partner in CIP’s Growth Markets Funds, and Rohit Anand – Managing Director and Head of Asia Infrastructure and Climate Direct Investments – British International Investment, said, “Shivanand brings exactly the experience North Star needs at this stage of its development. Having most recently built one of the country’s leading renewable energy platforms from the ground up, he understands what it takes to move from ambition to operating assets. His appointment marks an important step in delivering a business that contributes meaningfully to India’s decarbonization and energy security goals.”
North Star will invest across solar, wind and hybrid renewable energy as well as storage projects, which are expected to generate more than 4 million MWh of clean energy annually and avoid about 4 million tonnes of carbon emissions each year
