According to reports, AT Capital, a Singapore based $2.5 billion private investment fund, has invested around $40 million in India-based Orange Group’s renewable energy projects.
AT Capital, which is promoted by Indian businessman Arvind Tiku, invests in a number of sectors including infrastructure, real estate, hospitality and renewable energy.
The Orange Group focuses on hydro, biomass, wind and solar energy and has an operating portfolio of 60 MW of wind power projects in Rajasthan and is currently developing a further 150 MW of wind power projects in Madhya Pradesh.
The company is also developing two biomass-based power projects of 10 MW capacity each in Karnataka. The Orange Group plans to become one of the leading renewable energy companies in India and is targeting 1,000 MW of power generation by 2017 through further investment.
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 solar, wind, biomass and small-scale hydroelectric technologies.
AT Capital is bullish on the Indian renewable energy space and 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 finalized.