The British energy major will invest $70MM in India's Green Growth Equity Fund (GGEF). Following this investment, BP will become a limited partner in GGEF, placing a representative on the GCEF advisory committee and gaining the right to co-invest in any low-carbon GCEF projects. Commenting on this investment, Dev Sanyal, BP Group's executive vice president for gas and low carbon energy, said in a company statement, "India is committed to the energy transition and pursuing a range of low carbon options for the future. BP is equally committed to reimagining energy in India. Our investment in GGEF is aligned with our strategy of investing in integrated low carbon energy using innovative partnerships and business models. It provides a unique platform for BP to accelerate its ambition in India and to co-invest in a variety of zero and low carbon energy solutions in the country."
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