IndiGrid, announced a strategic investment of Rs 6.6 billion ($88.7 million) in Fotowatio Renewable Ventures (FRV)
IndiGrid, India’s first power sector infrastructure investment trust, has announced a strategic investment of Rs 6.6 billion ($88.7 million) in Fotowatio Renewable Ventures (FRV), a leading global developer of renewable energy projects. The investment will enable IndiGrid to expand its renewable energy portfolio and contribute to India’s transition to a low-carbon economy.
In this blog article, we will discuss the details of the IndiGrid-FRV deal and its implications for India’s renewable energy sector. We will also provide a summary table of the key features of this investment.
Details of the Deal
The Rs 6.6 billion investment by IndiGrid in FRV will give the infrastructure investment trust a 50% stake in a 100 MW solar project in Rajasthan, India. The solar project is expected to generate clean energy and contribute to reducing India’s carbon footprint.
IndiGrid’s investment in FRV is part of the company’s strategy to increase its portfolio of renewable energy assets and achieve its target of becoming India’s leading renewable energy infrastructure platform. The investment is also aligned with the Indian government’s goal of achieving 450 GW of renewable energy capacity by 2030.
Implications for India’s Renewable Energy Sector
The IndiGrid-FRV deal is a significant development for India’s renewable energy sector, as it will support the growth of the sector and contribute to reducing the country’s dependence on fossil fuels. The investment will also create new job opportunities and contribute to the overall economic development of the country.
India’s renewable energy sector has been growing rapidly in recent years, driven by falling costs and favorable government policies. The country has set a target to achieve 175 GW of renewable energy capacity by 2022, of which 100 GW is expected to come from solar power.
The IndiGrid-FRV investment will help to accelerate the growth of India’s renewable energy sector, by providing much-needed capital to develop new projects and expand existing ones. The investment also reflects the growing interest of international investors in India’s renewable energy market.
Summary Table of Key Features
Here is a summary table of the key features of the IndiGrid-FRV investment:
| Feature | Details |
|---|---|
| Investor | IndiGrid |
| Investee | Fotowatio Renewable Ventures (FRV) |
| Investment Amount | Rs 6.6 billion ($88.7 million) |
| Stake | 50% |
| Project | 100 MW solar project in Rajasthan, India |
| Goal | Expand renewable energy portfolio |
| Alignment | Indian government’s renewable energy goal |
Conclusion
The IndiGrid-FRV deal is a positive development for India’s renewable energy sector, as it will support the growth of the sector and contribute to reducing the country’s dependence on fossil fuels. The investment will also create new job opportunities and contribute to the overall economic development of the country.
As India continues to pursue its ambitious renewable energy targets, we can expect to see further investments and partnerships in the sector, as investors seek to capitalize on the growing demand for clean energy.