Thomas Lloyd acquired significant stake in Solar Arise India
Post date: 09/10/2018 - 20:07
Investment company Thomas Lloyd announced that it has acquired »a significant stake« in the Delhi-based Solar Arise India Projects Pvt Ltd. and will become the largest shareholder in the company. Solar Arise currently owns and operates 130 MW of grid-connected solar power projects in India. Thomas Lloyd’s investment is expected to support the company’s expansion of its solar energy capacity by approximately 250 MW.
According to the company, this is Thomas Lloyd’s first renewable energy investment in India, and beyond the current identified portfolio, the company has the scope to expand capacity in excess of 1 GW of grid-connected solar for the domestic Indian market.
Solar Arise’s co-founders are Tanya Singhal and James Abraham (previously worked for Boston Consulting Group) and Anil Nayar (former a senior partner at KPMG in both Canada and in India). Thomas Lloyd will join the existing founding shareholders, the European Initiative on Clean, Renewable Energy, Energy Efficiency and Climate Change related to Development SICAV SIF in relation to Global Energy Efficiency and Renewable Energy Fund (GEEREF), advised by the European Investment Bank Group, and Kotak Mahindra managed Core Infrastructure India Fund (CIIF).