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`Small is beautiful' fund invests in energy projects
Our Bureau
Hyderabad
,
Nov. 7
`small is beautiful' (SIB), a Rs 231-crore private equity fund on Tuesday announced investments in three companies engaged in power generation amounting to Rs 51crore. SIB has invested in KVK Energy & Infrastructure Ltd, Hyderabad for its proposed 56-MW coal-washery-rejects-based power project in Chhattisgarh. The second investment is in Shalivana Projects Ltd for their two 10-MW biomass-based, power projects in Maharashtra. The third investment is in the Chamoli Hydro P Ltd for its five-MW hydel power project in Uttaranchal. In all the three projects, the financial closure is now over and work started, according to Mr Kiran Vadlamani of KSK Ventures Pvt Ltd.
SIB is India's first private equity fund floated in 2004 and focused on investing exclusively in power generations' assets. The investors in this fund are financial institutions, banks and insurance companies, according to Mr Kiran.
The fund is managed by KSK Energy Ventures Pvt Ltd, Hyderabad. SIB is focussed on investing in renewable and captive power projects with capacities less than 100 MW. It made its first investment of Rs 10 crore in Pioneer Genco, a project promoted by the Pennar Group in Karnataka. "We have had a good and profitable experience and have exited the venture," Mr Kiran told Business Line.
The other investments are in a captive power plant of the French Cement giant, La farge in Bilaspur in Chhattisgarh and another project in Ramanathapuram, he said.
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