Singapore-based infrastructure investor and developer Equis Pte Ltd has announced plans to invest $1 billion in the Indian renewable energy sector over the next 2 years. This investment would double the company’s portfolio to nearly 2 GW, consisting of wind, solar, and hydro power projects.
Currently, Equis holds 3.6 GW of renewable energy in India, Japan, the Philippines and Thailand in its portfolio. Equis, which finances as well as develops, constructs, and operates renewable energy projects in Asia via 6 of its investee companies, has raised US$2.67 billion of equity since 2011.
In the last 4 years, the company has invested aggressively in the growing Indian renewable energy market with approved equity contributions of $630 million. The company has financed 737 MW of renewable energy projects in India, out of which, 300 MW of projects are in the construction and development stage.
The company has plans to develop 5 GW of renewable energy projects over the next 5 years, and is continuously expanding its footprint in existing markets — Thailand, India, the Philippines, and Japan. The company is also looking for opportunities to enter new markets such as Indonesia, Taiwan, and Australia.
Recently, Equis commissioned a 108 MW wind project in India in the state of Madhya Pradesh at an investment of $131 million. Also, the company commissioned southeast Asia’s largest solar PV project of 132.5 MW in Cadiz City in the Philippines this year.
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