I Squared Capital to invest $150 mn in Amplus Energy Solutions

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I Squared Capital has proposed to invest $150 million in Amplus Energy Solutions, an Indian distributed solar power project developer.

It is the first green energy investment the multinational infrastructure investment manager is making in India.

Livemint has reported quoting unnamed sources that the funding will be used to expand operations of I Squared in India and Asia.

The private equity firm had been focusing on energy, utility, and transport sectors in North America and Europe, and invests in high-growth economies.

I Squared Capital has been evaluating infrastructure projects in India.

Last month Mint the company was in talks with NCC Ltd to acquire a majority stake in an Uttar Pradesh tollway project. It was also evaluating the Bangalore Elevated Tollway project.

Also, International Finance Corporation, which is part of World Bank group, has also committed $100 million in equity to a joint venture with I Squared Capital to buy operating road assets.

India is targeting 100 gigawatts of solar power and 60 gigawatts of wind energy capacity by 2022. The projects are expected to require $200 billion to complete. The investment proposed by I Squared Capital will help in getting India closer to the target.

Ajith Kumar S

editor@greentechlead.com

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