Private Equity Fund Investments
Danish fund IFU, UN fund to invest $50-M in ACME Solar's Rajasthan project
Danish fund IFU and United Nations Office for Project Services' S3i will acquire a 39% and 10% stake, respectively, in Gurugram-based ACME Solar's 250 MW solar project in Rajasthan. ACME will retain the balance 51% stake in the project. The total value of the project is about USD 200 million and a quarter of the amount will be financed through equity contributions by the three co-investors. The IFU investment is made on behalf of Denmark's SDG Investment Fund, which is backed by the Danish state, large Danish pension funds and other private investors. Once operational, the solar plant will provide clean electricity to the equivalent of 500,000 households. It is also estimated that the project will create some 225 jobs in the construction phase, and 75 jobs while the plant is in operation.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
