Axis Private Equity invests $11m in Indian renewable energy company

9 June 2009

Axis Private Equity, a division of the Indian private bank, has invested INR540m ($11.4m) in Shalivahana Green Energy Limited (SGEL), a renewables company which focuses on the biomass and small hydro power projects, according to reports.

The private equity firm made the investment alongside IL&FS Financial Services, which together have committed INR900m ($19m).

SGEL has four projects with a combined capacity of 35MW. SGEL will reportedly be able to expand its capacity to 250MW with this fresh capital injection by developing further projects throughout India.

Axis Private Equity held the first closing of its Axis Infrastructure Fund on INR6bn last year and is looking for a final close of INR20bn.

Copyright © 2009 NewNet

Tags: biomass, hydro, private equity

This story was published on Tuesday, June 9th, 2009 at 9:49 am and is filed under Asia, biomass/biofuel, deals, water. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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