Private Equity

PE Fund Investments

Norwegian funds acquire 49% stake in “Thar Surya 1” solar plant for Rs.280-Cr

Press Release  

The Norwegian Climate Investment Fund - a new fund managed by Norfund and KLP, Norway's largest pension company - is to acquire a 49% stake in a 420 MW solar power plant Thar Surya 1 in Rajasthan, developed by Italy-based Enel Green Power. The deal is valued at about INR 280 crore. Once operational, the project is expected to deliver more than 750 GWh a year. Given India's current energy mix, the project is expected to avoid more than 615,000 tonnes of CO2 emissions per year.