APG has partnered with Indiaβs Piramal Enterprises to invest $130m (β¬116m) in Indian solar projects.
The investment in an Essel Infraprojects vehicle comes as part of .
Essel Green Energy Private, the vehicle chosen, currently owns 160 MW of solar IPP assets (independent power producer) across four Indian states, of which 110 MW worth is already operational.
Hans-Martin Aerts, head of Asia-Pacific infrastructure investments at APG, said the manager was a βstrong supporterβ of investments in sustainable energy generation.
βWe view India as an attractive renewable-energy market with favourable growth dynamics,β he said.
Jayesh Desai, co-head of the structured investments group at Piramal, said the joint venture with APG saw βgreat potentialβ in green energy projects.
βGiven the governmentβs focus on non-conventional energy and Essel Infraβs strong track-record, we are confident the investment will yield good results,β he added.
APG , while the Canada Pension Plan Investment Board agreed a venture with Piramal to provide .
