PE funds invest $390 mn in renewable energy platform Ayana
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NIIF has invested about $284 million, EverSource Capital managed Green Growth Equity Fund (GGEF) invested $36 million and another $70 million investment from CDC Group
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Indian clean energy platform Ayana Renewable Power (Ayana), owned by UK s CDC Group, has received additional funding of about $390 million (Rs.2870 crore) from existing investors - National Investment and Infrastructure Fund (NIIF), and EverSource Capital, besides CDC.
NIIF has invested about $284 million, EverSource Capital managed Green Growth Equity Fund (GGEF) invested $36 million and another $70 million from CDC Group, said a company release today. Post this latest round of investment, NIIF would be the largest shareholder of Ayana.
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Ayana Gets Additional USD 390 Million Funding
Renewable energy platform Ayana on Thursday got additional funding worth USD 390 million from the CDC, the National Investment and Infrastructure Fund (NIIF) and the Green Growth Equity Fund (GGEF). CDC Group, the UK s development finance institution and impact investor, NIIF and EverSource Capital managed GGEF announced additional equity funding of USD 70 million, USD 284 million and USD 36 million respectively in Ayana Renewable Power (Ayana), a leading Indian renewable energy platform, a statement said.
FOLLOW US ON: New Delhi, Dec 17: Renewable energy platform Ayana on Thursday got additional funding worth USD 390 million from the CDC, the National Investment and Infrastructure Fund (NIIF) and the Green Growth Equity Fund (GGEF). CDC Group, the UK’s development finance institution and impact investor, NIIF and EverSource Capital managed GGEF announced additional equity funding of USD 70 million, USD 284 millio
ICRA assigns its first rating for electric bus project in India
December 17, 2020
Greencell Marudhara awarded A- (Stable)
In an industry-first move, rating agency ICRA has assigned A- (Stable) to Greencell Marudhara Pvt Ltd, an electric bus-fleet operator for the Rajasthan State Road Transport Corporation (RSRTC), in Rajasthan.
ICRA’s rating in this sector is of significance with the Government of India promoting electric vehicles as a cleaner and sustainable form of transportation, with special focus on the commercial segment
The rating assigned for Greencell factors in its status as the successful concessionaire for procurement, operations and maintenance of 48, 12-metre-long, fully-built, air-conditioned electric buses on intercity routes for RSRTC (on gross cost contract basis under the FAME II Scheme), and its superior financial flexibility by virtue of being backed by Green Growth Equity Fund, said a statement.