Juniper Green Energy, a renewable energy power producer and operator of solar, wind and hybrid power projects, on Wednesday, said that it has raised $150 million (around Rs 1,244 crore) in equity from its existing backers.
The Gurugram-based company has raised the capital from Singapore-based Arvind Tiku’s family office AT Capital Group and Dutch multinational energy and commodity trading company Vitol.
To be sure, AT Capital owns a majority stake in Juniper Green.
The latest investment comes after the company raised $200 million from AT Capital and Vitol in 2021. With this, the company has raised $350 million from these two investors.
Juniper Green’s impressive project pipeline, combined with their proficiency in engineering, procurement, and construction (EPC) and O&M services, aligns seamlessly with our vision for a sustainable and greener future," said Sanjay Bakliwal, director at AT Capital Group.
Juniper Green is planning to use the funds to solidify its position in the Indian renewable energy sector.
This increased investment from AT Capital Group and Vitol will play a pivotal role as Juniper Green Energy targets to triple its operational capacity to 2.5 gigawatts (GW) by 2026 and forge ahead with its ambitious development plans, the company said in a release.
At present, it claims to have an operational portfolio of nearly 800 megawatts (MW) with an under-construction capacity of 435 MW and a development pipeline of more than 3 GW across solar, wind and hybrid power projects. It recently signed a Memorandum of Understanding worth Rs 5,000 crore with Power Finance Corp. Ltd. for its ambitious 1200 MW renewable energy projects.
Juniper Green Energy is AT Capital’s second major investment in India’s renewable energy sector after it had backed renewable energy major Orange Renewable Power Pvt. Ltd . At Capital, however, had sold its stake to renewable energy major Greenko Group in 2018.
AT Capital, which has been actively investing in renewable energy, real estate, hospitality, and other sustainable ventures, has an asset portfolio of approximately $2.4 billion.
