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Aloe private equity plans $501 million fund to back renewable energy ventures in Asia

We had discussed earlier this year that  most of the fund-raising in Renewable Energy and Cleantech in India is happening in mega project developments and developers.

Renewable Energy is at an interesting stage in India where the question is now on how best we can tap the potential and convert the opportunity available into actual projects being developed and scaled on the ground.

Investors have also shown a lot of interest in this sector and according to data from Venture Intelligence, $1.5 billion has been invested by venture capital and private equity firms into clean energy  developers from 2008 to date. Indian Cleantech sector  has witnessed an investment of about $465 million from 2008.

According to reports, Aloe Private Equity, a Mauritius- based company that focuses on Asia, seeks to raise as much as 350 million euros ($501 million) to invest in companies developing environmental technologies.

The company expects to close in the third quarter the first funding round for its Aloe Environment Fund III with capital commitments of about 100 million euros, according to Vivek Tandon, co-founder and general partner at Aloe.

It expects to investment in eight to 10 companies in fields such as waste management, recycling, water and energy efficiency that want to expand into Asia, Tandon said in an interview yesterday.

“Entrepreneurs in Asia were very quick to realize that being green was a profitable business and the concept of reduce, reuse and recycle could save their companies money,” he said. Aloe has received commitments from two institutional sponsors and some of its existing partners.

Aloe also expects to address the significant gap between the supply of energy and the demand in India, Asia’s third- largest energy consumer, Tandon said. Low-carbon power investment in India rose to $4.1 billion in 2010 from $3.2 billion a year earlier, according to New Energy Finance.

Aloe, founded in 2003, has 180 million euros in assets under management and 10 companies in its portfolio. Three are in discussions with potential acquirers or are considering initial public offerings, he said.

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