AT Capital invests in renewable energy projects in India
2014-07-24 10:31:56
AT Capital, a Singapore-based $2.5 billion (€1.8 billion) private investment fund, has invested around $40 million in renewable energy projects developed by India's Orange Group.
The Orange Group focuses on biomass, as well as hydro, wind and solar energy. With plans of becoming one of the leading renewable energy companies in India, targeting 1,000MW of power generation by 2017 through further investment, the company is developing two biomass-fired power plants of 10MW capacity each in Karnataka.
The Indian subcontinent is rich in renewable energy resources and the country has significant potential for harnessing sustainable power. It possesses the natural resources and the geographic and climatic conditions necessary to support biomass, solar, wind and small-scale hydroelectric technologies.
AT Capital, which is promoted by Indian businessman Arvind Tiku, invests in a number of sectors including infrastructure, real estate, hospitality and renewable energy.
In a statement, AT Capital says it is 'backing the Orange Group in its vision to become a key player in the renewable energy space in India. The fund has committed further allocation to Orange Group as projects are finalised'.