ThomasLloyd, an investment and advisory working in the Asian infrastructure sector, has announced the acquisition of a significant stake in SolarArise India Projects Private Limited. This is the company’s first renewable energy investment in India.
The investment will come from the ThomasLloyd Cleantech Infrastructure Holding GmbH, ThomasLloyd Cleantech Infrastructure Fund SICAV and ThomasLloyd SICAV-Sustainable Infrastructure Income Fund. Following this investment, ThomasLloyd will become SolarArise’s largest shareholder. Other share holders include the European Initiative on Clean, Renewable Energy, Energy Efficiency and Climate Change which is related to Global Energy Efficiency and Renewable Energy Fund (“GEEREF”), advised by the European Investment Bank Group, and Kotak Mahindra managed Core Infrastructure India Fund (“CIIF”), along with the founding management team.
SolarArise is a Delhi-based solar project developer and currently owns and operates approximately 130 MW of solar power projects in the country. ThomasLloyd’s investment is expected to support the expansion of this solar capacity by approximately 250 MW.