Continuum Green Energy, an India-based renewable energy platform has secured $350 million from two institutional investors for funding the growth of its clean energy projects. The investors in the fund-raising round were given an option of issuing an extra $50 million if certain requirements were met. The company expanded its debt by issuing senior secured floating rate notes.
The company was incorporated in 2009. It has a portfolio of more than 3.7 GW, including 873.4 MW of operational projects, 426.4 MW of projects under construction, 1,172 MW of ready-for-construction, and an additional 1,228 MW of under development projects. The company owns and runs 226.8 MW of wind-solar co-located hybrid plant in Tamil Nadu and is now constructing its second 240 MW wind-solar hybrid project in Gujarat.
Recently in July 2022, Aerem secured $2.5 million in a funding round headed by Blume Ventures. The funds raised will be deployed in constructing a technological platform for streamlined engagement with multiple stakeholders and expansion of the loan book and workforce of the company. The Mumbai-based solar finance platform provides financial aid to MSMEs for rooftop solar asset installation.