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Norfund-backed renewable energy firm SAEL Industries raising fresh capital

VCCircle

VCCircle · 10m ago

Norfund-backed renewable energy firm SAEL Industries raising fresh capital

Indian food processing and green energy company, SAEL Industries Ltd, is planning to raise capital to construct a solar power plant. The company, backed by Norfund, a Norwegian development financial institution, aims to expand its renewable energy portfolio. SAEL Industries, founded by Jasbir Awla, is focused on sustainable development and aims to contribute to India's renewable energy goals.

Related News

SAEL Industries arm commissions 50 MW solar project in Maharashtra

Economic Times

Economic Times · 1m ago

SAEL Industries arm commissions 50 MW solar project in Maharashtra

SAEL Industries' Solar RE Power subsidiary has launched a 50 MW solar power plant in Maharashtra’s Beed district. The ground-mounted project utilizes TOPCon bifacial modules for optimal energy yield and reliability. It aims to generate over 100 GWh of clean electricity annually, aligning with sustainable energy goals. A 25-year Power Purchase Agreement with Maharashtra State Electricity Distribution Company Limited ensures long-term revenue and tariff stability. SAEL is expanding its renewable energy footprint in India.

PE-backed Continuum Green Energy gets SEBI nod for IPO

VCCircle

VCCircle · 4m ago

PE-backed Continuum Green Energy gets SEBI nod for IPO

The Securities and Exchange Board of India has approved the IPO proposal of Continuum Green Energy Ltd, a renewable energy firm backed by Morgan Stanley Infrastructure Partners. The IPO, worth Rs 3,650 crore, includes a fresh issue of Rs 1,250 crore and an offer for sale by its Singapore-based holding firm. Founded in 2009, Continuum's portfolio includes about 4.7 GWp of renewable projects. Funds will be used for debt repayment.

IPO-Bound SAEL to Spark Solar Surge with INR 5,000 Cr UP Mega Plant

StartupTalky

StartupTalky · 3m ago

IPO-Bound SAEL to Spark Solar Surge with INR 5,000 Cr UP Mega Plant

SAEL plans to invest INR 5,000 crore in establishing a 5 GW solar cell manufacturing plant in Uttar Pradesh to capitalize on government policies promoting local renewable energy suppliers. This Delhi-based, IPO-bound company will expand its solar cell production capabilities, adding to its existing facilities in Rajasthan and Punjab. SAEL also aims to increase its solar power generation capacity to 15 GW within four years, integrating battery storage systems and expanding its waste-to-energy initiatives.

Norfund, others invest $38 mn in green energy firm Candi Solar

VCCircle

VCCircle · 1y ago

Norfund, others invest $38 mn in green energy firm Candi Solar

Norfund, along with other investors such as Kyuden International Corporation and STOA Infra & Energy, has led a $38 million investment in Swiss renewable energy firm Candi Solar. The funding will aid Candi Solar in expanding its presence in India and increasing its capacity by 200 MW. Candi Solar specializes in executing solar power projects for commercial and industrial clients and has already completed projects for companies in India and South Africa. The investment highlights the commitment of the investors to sustainable development and the transition to renewable energy.

I Squared's Hexa Climate set to strike maiden acquisition

VCCircle

VCCircle · 1y ago

I Squared's Hexa Climate set to strike maiden acquisition

Hexa Climate, the renewable energy platform backed by I Squared Capital, is nearing its first acquisition. The company is set to acquire solar and wind assets totaling around 200-300 MW from a listed Indian firm. This move comes as Hexa Climate aims to expand its presence in the renewable energy sector.

Brookfield-controlled CleanMax taps offshore investor for Thailand project

VCCircle

VCCircle · 10m ago

Brookfield-controlled CleanMax taps offshore investor for Thailand project

CleanMax Enviro Energy Solutions, an Indian renewable energy company controlled by Canadian firm Brookfield, is raising capital from an offshore investor to expand its rooftop solar portfolio in Thailand. After Brookfield acquired a majority stake in CleanMax last year, the company is planning to establish solar projects with a combined capacity of 300 MW in Thailand. CleanMax aims to contribute to Thailand's renewable energy goals by providing clean and sustainable energy solutions.

South African PE Metier strikes seventh bet from sustainability-focused fund

VCCircle

VCCircle · 11m ago

South African PE Metier strikes seventh bet from sustainability-focused fund

South African private equity firm, Metier, has made its seventh investment from its renewable energy and sustainability-focused fund. The firm has backed Mertech Marine, a company that recycles out-of-service submarine telecommunications cables. Metier Sustainable Capital Fund II, which has a focus on renewable energy, energy efficiency, resource-efficient infrastructure, and waste management, deployed the funds. Mertech Marine is the world's only turnkey provider of recovery and recycling capabilities for submarine cables and has processed over 105,000 km of cable to date. Metier has also made investments in other renewable energy and clean technology companies with the fund.

Stellaris Venture plans third fund; Macquarie, JSW, Actis eye O2 Power

VCCircle

VCCircle · 1y ago

Stellaris Venture plans third fund; Macquarie, JSW, Actis eye O2 Power

Stellaris Venture Partners, an Indian early-stage investment firm, is raising its third fund with a target of $300 million. The firm has already secured soft commitments of $200-250 million and is engaging with potential limited partners. Notable investors including Macquarie, JSW, and Actis are reportedly interested in O2 Power, a renewable energy company. Stellaris Venture Partners has previously backed successful Indian startups Mamaearth and Glance.

Eversource’s Radiance teams up with infra investor PIDG for green energy play

VCCircle

VCCircle · 1y ago

Eversource’s Radiance teams up with infra investor PIDG for green energy play

Indian renewable energy company Radiance Renewables has partnered with Private Infrastructure Development Group (PIDG), a global investor focusing on emerging markets, to form a joint venture. The collaboration aims to develop a portfolio of renewable energy projects for commercial and industrial clients. Radiance, backed by private equity firm Eversource Capital, will work with PIDG's Singapore-based company, InfraCo Asia, to drive the development of greenfield projects in India.

Spotlight: Can a pivot put SunSource Energy on a steady growth path?

VCCircle

VCCircle · 1y ago

Spotlight: Can a pivot put SunSource Energy on a steady growth path?

Neev Fund, a private equity firm backed by the State Bank of India and the UK's Department for International Development, has exited SunSource Energy, a renewable energy company. This has raised questions about the company's growth prospects and its ability to remain on a steady growth path. Typically, private equity firms invest in capital-intensive sectors like renewable energy with the intention of remaining invested for several years before exiting the venture. However, SunSource Energy's pivot and Neev Fund's exit raise uncertainties about the company's future trajectory.

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