European alternative asset manager EQT and Singapore’s state investment firm Temasek Holdings Pte. announced that they have jointly set up O2 Power, a $500-million renewable energy platform in India.
O2 Power will target more than four gigawatts (GWs) of installed capacity across solar and wind projects, comprising both greenfield projects, as well as mergers and acquisitions.
This would be EQT Infrastructure’s first investment in India and is in line with EQT’s thematic approach to invest in sustainable solutions, guided by the United Nations’ Sustainable Development Goals.
Stockholm-based EQT is a global investment organization with more than €62 billion in raised capital and around €41 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US.
With O2 Power, EQT and Temasek join several other foreign investors who have set up investment platforms in India to either develop or acquire renewable energy projects.
Reference- livemint, Economic Times, VC Cricle, Business Standard