AMP Capital makes clean energy investment in India

The Hyderabad-based energy company develops, owns and operates power generation assets across the agri-waste, hydro and wind sectors. Existing investors in SGEL include International Finance Corporation (IFC) and Infrastructure Leasing and Financial Services Group (IL&FS), one of India's leading infrastructure development and finance companies.

As part of the transaction, two members of AMP Capital's investment team will join the SGEL board.

Renewable energy generation in India has benefited from a favorable regulatory environment. Since 2002, renewable grid capacity as a percentage of total capacity has increased by almost four times. Meanwhile, India has over 21 gigawatts (GW) of grid-connected renewable energy sources, of which wind dominates with almost 15 GW of installed capacity

Anoop Seth, AMP Capital's head of infrastructure for Asia, said SGEL is both strong in geographical and fuel diversification. "SGEL has an operating capacity of 80 megawatts (MW) with another 45 MW to be completed in the next six months. In addition, it has a pipeline of 300 MW, which includes 60 MW of small hydro projects."

The US$161 million fund targets growth-oriented infrastructure investments in India and China in sectors such as transportation, energy and utilities, telecommunications and urban infrastructure.

With over A$124.9 billion ($123 million) in funds under management as at 31 March 2012, AMP Capital has more than 20 years of experience investing in the sphere of infrastructure and has completed over 80 investments globally since 1988.

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• Topics
• South Asia
• Infrastructure
• India
• AMP Capital Investors
• IFC
• IL&FS Investment Managers
• Infrastructure