Actis, GIC invest $77 million in GVK Energy

GVK, which is owned by infrastructure developing company GVK Power and Infrastructure, claims to be is one of India's first private sector developers. According to a release from the companies, GVK's power portfolio has an operational capacity of 909 MW, with a further 4,200 MW in development. The capital injection is slated to go toward power plants' construction and operation to reach GVK's targets.

"Today, we are poised to significantly grow our energy business to meet the growing demand in India," G.V. Krishna Reddy, Chairman of GVKPIL, publicly said. "While this strategic transaction will enable GVK Energy to deploy further capital we believe that both Actis and GIC will prove to be ideal partners in the next phase of the company's growth."

Actis, meanwhile, noted that the deal strengthens its ties to India's energy and infrustructure sector, and follows the JV brokered with Tata Realty and Infrastructure in April to invest $200 million in Indian road and highway projects.

In November, 3i Group picked up a 21.1% stake in GVK through a $182 million investment.

 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Investments
• South Asia
• Infrastructure
• 3i Asia Pacific
• Actis Capital
• GIC Private