Gati Infra to raise £100 m for green energy
Gati Infrastructure plans to raise £100 million in the next few months to power its energy business.
Part of the proceedings would go to its projects in Sikkim where it is building hydel power projects, while the remaining fund would be utilised to add 850 MW of renewable energy capacity.
Gati Infrastructure is an initiative of Mahendra Agarwal, Founder and Chief Executive Officer of express distribution and supply chain solutions firm Gati Ltd.
“These projects would come up in States like Andhra Pradesh, Telangana and Gujarat,” Meera Madhusudan Singh, Director of Gati Infrastructure Ltd, told BusinessLine.
Meera has said the company was in the process of completing the fund-raising deal and hinted that the deal would be closed in the next financial year.
She said the funds would be utilised to build the power capacities in the next five-six years.
The 12-year-old entity is building three hydro electric projects in East and West Sikkim.
The group has assets in hydro, solar and coal projects.