Swiss-Dutch commodities trader Vitol and Singaporean investment firm AT Capital Group are investing USD 350 million (EUR 328m) in India-based renewable energy power producer Juniper Green Energy to help it triple to 2.5 GW its operational capacity by 2026.
Launched in October 2018, Juniper is an operator of solar, wind and hybrid power projects. The company has an operational portfolio of 800 MW, some 435 MW of projects under construction and a development pipeline of more than 3 GW.
The New Delhi-based firm recently announced that it had been awarded 190 MW of wind capacity from state electricity regulation board GUVNL and 105 MW of solar capacity from Maharashtra State Electricity Distribution Co Ltd (MSEDCL). It also started construction works on its first interstate transmission network (ISTS) solar power project of 140 MW capacity under the merchant/commercial and industrial (C&I) route.
AT Capital Group and Vitol first invested USD 200 million in the business about two years ago.
The increased investment commitment reflects the investor’s “unwavering confidence in Juniper Green Energy’s growth trajectory and capabilities,” according to a recent statement.
(USD 1 = EUR 0.037)