IDFC Alternatives and CDC Group to Invest in India-based Green Infra (Asia)

Source: CDC Group, Asian Venture Capital Journal  |  Author: Mirzaan Jamwal

IDFC Alternatives, the alternative asset management vertical at infrastructure financing company IDFC, and U.K. development finance institution CDC Group will participate in a US$125 million financing round for India-based renewable power producer Green Infra. CDC Group will invest up to US$25 million, while IDFC will contribute INR1.5 billion (approximately US$23.7 million). The transaction will be structured through IDFC PE Fund III. Green Infra was set up in April 2008 with capital from IDFC PE Fund II and Fund III. Green Infra intends to use the capital injection to expand its wind and solar power generation capacity through a combination of organic growth and selective acquisitions.