The Hindu Business Line : Axis PE, IL&FS to invest Rs 90 crore in SGEL

MUMBAI: Axis Private Equity (Axis PE) and IL&FS Financial Services, have announced an investment of Rs 90 crore in Shalivahana Green Energy Limited (SGEL).

Axis PE will invest Rs 54 crore directly in SGEL while IL&FS Financial Services will invest Rs 36 crore, a press release issued here today stated.

This is Axis PE's fifth investment following previous investments aggregating Rs 320 crore in water supply and sanitation, laying oil and gas pipelines, railway EPC and hospitality sectors, the release said.

SGEL is a leading renewable energy player with a focus on development and operation of biomass and small hydro power projects.

Currently, SGEL has four operational projects having aggregate capacity of 35 MW and is at an advanced stage of developing a number of biomass and small hydro power projects, the release said.

With the capital infusion, SGEL is well-positioned to expand its capacity to over 250 MW, it added.

This investment further reaffirms Axis PE's commitment to invest in infrastructure-related companies in high-growth segments such as renewable energy, Axis PE's Managing Director and CEO, Mr Alok Gupta said. - PTI

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