Private Equity

PE Fund Investments

Norfund, KLP to invest Rs.280-Cr in wind plant set up by Enel Green Power

Mint  

The Norwegian Climate Investment fund, managed by Norfund, and KLP, Norway's largest pension company, have together committed equity investment and guarantees for a 168 MW wind power plant SPV - KNI India - to be developed by Enel Green Power. The investment will involve joint commitments of ca NOK 317 million (INR 240 Cr) in equity capital and loan guarantees up to NOK 530 million (INR 40 Cr) towards the construction of the project. The climate investment fund will own 51% of KNI India, while KLP will hold the balance 49% stake. Enel Green Power, founded in 2008 within the Enel Group to develop and manage renewable power projects globally, operates over 59 GW of installed renewable capacity in Europe, Asia, Africa and the Americas. In July 2020 Norfund and Enel Green Power entered into a joint investment agreement for renewable energy projects in India. The first project together, the 420 MW Thar solar plant, was announced in August 2022.