Home » Finance » NEA to invest $20M in Chennai based wind power developer Trishe Energy

NEA to invest $20M in Chennai based wind power developer Trishe Energy

In February we had mentioned that, Chennai-based Trishe Energy, a wind power developer, which on Monday bagged an order from Indian Energy for the setting up of 1,000-MW of wind farms, is looking for private equity infusion.

With the Indian Energy deal, Trishe has orders worth close to 2,000 MW in India. Trishe, Mr Ramkhumar said, was not a power generator (not an IPP), but an EPC contractor. Mr Ramkhumar said that usually EPC contractors are the manufacturers of wind power turbines, but Trishe is a pure-play developer.

In may this year, Trishe Energy had said that it was currently in talks with a number of  private equity firms to raise about $100 million, which it plans to re-invest in infrastructure, including land development and power allocation.

“We are seeing a lot of interest from private equity investors, and the fund raise should be done in three or four phases,” Bikramaditya Raha, president – projects, Trishe India, said then, without disclosing the names of potential investors.

According to a report in VCCircle, New Enterprise Associates (NEA), a mid-market private equity firm is in talks to invest $14.4 million (Rs 80 crore) in Trishe Energy, a Chennai-based wind power developer, two sources close to the development  told VCCircle.

However sources close to the development have told Panchabuta that the investment in Trishe Energy is likely to be about $20 million.

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