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EQT fund, Temasek set up Indian renewables platform targeting 4 GW

Project site in India. Author: India Bundled Wind. License: Creative Commons

January 22 (Renewables Now) - The EQT Infrastructure IV fund and Singapore’s sovereign wealth fund Temasek Holdings Pvt Ltd have made commitments to invest a combined USD 500 million (EUR 451m) in a new renewable energy platform in India.

The pair plans to deploy the above-mentioned sum in the new O2 Power platform over the coming years with the goal of achieving more than 4 GW of installed renewable power generating capacity.

O2 Power is based in Gurgaon, the state of Haryana, and headed by CEO Parag Sharma. It will focus on developing utility-scale solar, wind and hybrid projects “with good quality off-takers” through both greenfield project development and mergers and acquisitions (M&A).

EQT Infrastructure IV is a fund launched by Sweden-based private equity firm EQT AB. With this latest transaction, the fund is expected to be about 60-65% invested.

(USD 1.0 = EUR 0.902)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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