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)